2015-04-02 19:20:00
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 that Total has argued its production sharing agreement for Exploration Area 2, one of the blocks included in the deal, came with a tax waiver.
Total has not disclosed how much it may owe in taxes but the source said the bill stands at $30 million.
Last year Tullow Oil, along with Total and CNOOC, signed a pipeline and refinery deal with the Ugandan government that could lead to commercial production and crude exports by 2018.
Uganda has estimated crude reserves of about 6.5 billion barrels.
petroglobalnews.com
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January, 14, 12:20:00 |
OIL PRICE: NEAR $60 |
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January, 14, 12:15:00 |
U.S. SANCTIONS FOR GERMANY |
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January, 14, 12:10:00 |
RUSSIA'S OIL PRODUCTION DOWN 30 TBD |
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January, 14, 12:05:00 |
CHINA'S OIL IMPORTS UP 10% |
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January, 14, 12:00:00 |
SAUDI ARABIA'S OIL RESERVES 268.5 BLN BARRELS |
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January, 14, 11:55:00 |
IRAN'S OIL FOR INDIA DOWN 41% |
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Chronicle:
2019, January, 14, 11:50:00
IRAQ'S OIL DOUBLED
U.S. EIA - Crude oil production in Iraq averaged 4.5 million barrels per day (b/d) through August 2018, up from 4.4 million b/d in 2017. Iraq’s crude oil production has been steadily increasing since declines in the late 1990s and early 2000s, and it has nearly doubled over the past decade.
2019, January, 14, 11:45:00
OIL NEED INVESTMENT
PLATTS - Oil prices averaging $70/b in 2018 underscore the need for more investment in new supply, UAE energy minister Suhail al-Mazrouei told delegates at the Atlantic Council's Global Energy Forum in Abu Dhabi on Saturday.
2019, January, 14, 11:40:00
RUSSIA'S COAL EXPORTS UP 3.4%
PLATTS - Coal exports from Russia in 2018 came to 191 million mt, a rise of 3.4% on the year, according to the latest data from the ministry of energy, making the 2018 volume the highest since S&P Global Platts began collecting data in 2013.
2019, January, 14, 11:35:00
ФОНД НАЦИОНАЛЬНОГО БЛАГОСОСТОЯНИЯ РОССИИ: $ 58,1 МЛРД.
МИНФИН РОССИИ - По состоянию на 1 января 2019 г. объем ФНБ составил 4 036 047,6 млн. рублей, что эквивалентно 58 097,2 млн. долл. США. Совокупный доход от размещения средств Фонда в разрешенные финансовые активы, за исключением средств на счетах в Банке России, в 2018 г. составил 58 195,6 млн. рублей, что эквивалентно 923,3 млн. долл. США.
