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Vol 51 No 6

Published 19th March 2010


The next oil scramble

A new battle for oil blocks has started in the troubled north-east after France’s Total announced that it was seeking acreage in the Lake Albert basin, in alliance with Ireland’s fast-growing Tullow Oil (AC Vol 51 No 3). That sets the scene for a repeat of the drawn-out battle on the other side of Lake Albert in Uganda, where the Total-Tullow alliance last week secured three oil blocks. This was against strong competition from Italy’s ENI, which was trying to buy Heritage Oil’s stake in two blocks. Amid claims of massive inducements on offer, the contest brought Italy’s Foreign Minister Franco Frattini to back ENI’s bid in a meeting with Ugandan President Yoweri Museveni in Kampala.

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