abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

18 Feb 2010

Author:
Jody Clarke & Barry O’Halloran, Irish Times

Tullow rejects claim it will take excessive Uganda profit

See all tags
...Tullow oil has rejected claims that its existing deal with the Ugandan government will see it make excessive profits from the oil it has discovered in the African country...[It] pointed out that its production-sharing agreements are in line with similar deals done between oil companies and governments all over the world. “The Ugandan people will be the main beneficiary of revenues from oil production in Uganda when it begins,” the company said. “Tullow and its partners alone have taken on and will continue to take on the immense financial capital risk of developing the Lake Albert Basin.”