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Vol 3 (AAC) No 4

Published 1st February 2010


Uganda

Tullow takes Lake Albert

The Ugandan government has approved Tullow’s bid for Heritage’s stakes in Lake Albert, allowing the Irish company to work with CNOOC

In February, after months of political jockeying, Tullow gained control of all of the oil under Lake Albert, allowing it to bring in its preferred partner, the China National Offshore Oil Corporation. Beijing’s oil companies have won another diplomatic and commercial victory over the interests of Western oil majors.

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