Economy / Uganda
Uganda
November 2011 | Risk SummaryIrish independent Tullow Oil expects its Ugandan farm-out agreements with state-run China National Offshore Oil (CNC) and French major Total to be completed shortly. Parliament had called for the deal to be delayed while allegations of bribery and corruption among top officials were investigated, leading to delays in September and October. However, President Yoweri Museveni has stated that postponing approval for the transaction would damage the country's reputation in future negotiations with stakeholders in the oil and gas industry, and lead to costly litigation.
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