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2015-04-02 19:20:00

TOTAL & UGANDA FIGHTING

TOTAL & UGANDA FIGHTING

France's Total is seeking arbitration for a tax dispute with the Ugandan government tied to the company's acquisition of stakes in three exploration blocks.

The company told Reuters on Tuesday that it has filed a request with the International Center for Settlement of Investment Disputes, a unit of the World Bank, to help settle the matter.

The dispute is tied to a 2012 deal that allowed Total and China's CNOOC to buy stakes in three Uganda blocks from UK-based Tullow Oil for $2.9 billion.

A source at the Uganda Revenue Authority told Reuters…

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Tags: TOTAL, UGANDA, OIL
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