Sunday May 31, 2020

Tullow settles Uganda tax dispute

22nd June, 2015

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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The former NTMA head says he is ‘quite alarmed’ at the potential for legal actions over the large number of deaths in nursing homes during the crisis

Michael Brennan | 4 weeks ago

Oil storage in the self-styled ‘Pipeline Crossroads of the World’ is full to the brim, but the black stuff keeps on coming. With much of the world’s economy in a Covid-19 slowdown, at one point last week, benchmark US crude oil was priced at minus $37.63 a barrel

Barry J Whyte | 1 month ago

Every time Donald Trump spoke on the Covid-19 crisis last week, the stock markets plunged by another point

Marion McKeone | 2 months ago