Tullow gets Ghana boost as Total Uganda pipe deal approved

摘要

Tullovv Oil's unsuccessful time in Uganda finally looks set to come to a close with the government approving the US $575m sale of its interests to Total - meaning that the French firm can now push ahead with the oil export project on which it is so keen while Tullovv can improve its balance sheet and potentially spend money offshore Ghana. Yesterday the government and the Ugandan Revenue Authority executed a binding Tax Agreement that reflects the pre-agreed principles on the tax treatment of the sale of Tullow's stake to Total.