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AfDB ‘Strongly Rejects Claims It Plans To Finance East African Crude Oil Pipeline Project’

The African Development Bank (AfDB) has distanced itself from what it called an inaccurate news article stating that the institution plans to provide financial support to the East African Crude Oil Pipeline Project. “The Bank strongly refutes the claims in the misleading article, which references a letter by a group

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Gov’t: Total & Tullow Farm Out Transaction To Open Shs76 Trillion Investment In Uganda’s Oil Sector

The Government of Uganda has applauded the agreement reached between Total and Tullow; which will see Total acquire Tullow’s entire interests in the Uganda Lake Albert Development Project. The Minister of Energy and Mineral Development,  Kitutu Mary Goretti Kimono (pictured) welcomed the news. “The agreement is a significant milestone in

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FeaturedInternational NewsOil & Gas

SHS2 TRILLION DEAL! Total Acquires Tullow Entire Interests In Uganda Lake Albert Project

Total and Tullow have entered into an Agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline.  The overall consideration paid by Total to Tullow will be $575M (Shs2.1 Trillion), with an initial payment of $500M at closing

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