Tullow Oil has settled a capital gains tax dispute with the Ugandan government after agreeing to pay $250 million related to a 2012 farm-down deal with Total and CNOOC.
The company paid $142 million at the time and will pay the remaining $108 million in three equal installments. The first $36 million has already been paid and the remainder will be paid in 2016 and 2017.
"The settlement of this long-running dispute is good news for Tullow and Uganda," chief executive Aidan...
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Tom Maguire: Tax changes we make now could help business for years
The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures