Lake Albert: Museveni issues Tullow, Total and Cnooc with ultimatum

摘要

The scene took place on December 12 inthe Ugandan President’s residence inEntebbe. President Yoweri Museveni andhis minister of energy Irene Muloni werejoined by representatives of the three oilfirms active in the development of LakeAlbert’s oil reserves: Total, Tullow Oil andChina National Offshore Oil Co (Cnooc).The Uganda Revenue Authority (URA) bossDoris Akol was also present at the gathering.One of the main items on the meetingagenda was to make headway on the thornymatter of capital gains tax, which TullowOil is willing to accept in principle but notat the levels put forward by the government.