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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October, 19, 11:25:00 |
OIL PRICE: NOT ABOVE $80 |
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October, 19, 11:20:00 |
GAS FOR CHINA: THE BIGGEST |
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October, 19, 11:15:00 |
RUSSIAN LNG FOR GERMANY |
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October, 19, 11:10:00 |
RUSSIAN YAMAL LNG |
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October, 19, 11:05:00 |
EXXON'S LNG FOR CHINA |
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October, 19, 11:00:00 |
NORWAY'S GAS FOR BRITAIN |
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Chronicle:
2018, October, 19, 10:55:00
UZBEKISTAN'S NUCLEAR: $11 BLN
AZERNEWS - The estimated cost of construction of nuclear power plant of Russian design in Uzbekistan will be about $ 11 billion, the launch of the first power unit has been planned for 2028, the Aide to the President of the Russian Federation Yury Ushakov said.
2018, October, 19, 10:50:00
IRANIAN GAS: 1 BLN CMD
SHANA - Managing Director of the Iranian Gas Engineering and Development Company (IGEDC) Hassan Montazer Torbati said the supply of one billion cubic meters per day of natural gas by National Iranian Gas Company (NIGC) was one of the goals of the company by 2021.
2018, October, 19, 10:45:00
CHINA - BELGIUM NUCLEAR
WNN - China and Belgium have signed a framework agreement on cooperation in the peaceful use of nuclear energy. The agreement was one of several accords signed in Brussels yesterday during a meeting between Chinese Premier Li Keqiang and Belgian Prime Minister Charles Michel.
2018, October, 19, 10:40:00
NORWAY'S PETROLEUM PRODUCTION 1.6 MBD
NPD - Preliminary production figures for September 2018 show an average daily production of 1 607 000 barrels of oil, NGL and condensate, which is a decrease of 255 000 barrels per day compared to August.
