The government of Uganda has finally award to Tullow Oil Company an oil production license for 400 million barrel kingfisher oil well found in western Uganda worth 1.5 billion US dollars. Tullow oil will now be able to resume oil activities in the region and especially sell two thirds of its its stake to Ferance’s Total and China’s CNOC. The long waited move
Tullow Oil risks losing assets in Uganda following suit to halt petroleum activities
Tullow Oil is facing the worst end to the year 2011 with a suit observers say has the potential to make them lose their oil exploration and production interests in Uganda. This follows a petition by a city lawyer filed in the High Court seeking an injunction against the government signing or approving any oil
Parliament questions Mutebile over using oil money on military jets
Bank of Uganda Governor Tumusiime Mutebile has been thrown out the oil Adhoc committee investigating the oil sector for the second time for failure to produce evidence to the committee that he was directed by president Museveni to draw money from the consolidated fund to finance the purchase of fighter jets to the tune of 1.7 trillion