Tullow halts drilling

Oil explorer Tullow Oil has stopped drilling in two blocks near Lake Albert, stating it was unsure when it would recommence.

The company is awaiting the resolution of ongoing disputes with the government over capital gains tax owed by Heritage Oil following its sale of assets to Tullow. A junior finance minister previously claimed that the issue had been resolved and that Tullow had agreed to pay the tax, a claim Tullow’s CEO later denied. Uganda ranks 122 in the World Bank’s 2011 Ease of Doing Business report out of 183 economies.

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