The Ugandan government on 15 March sealed an agreement with a consortium of foreign firms led by Britain’s Tullow Oil PLC to extract oil and gas from its 2.5-billion-barrel western oil fields, Deutsche Presse-Agentur (dpa) reported. The memorandum of understanding is designed to resolve a long- running tax dispute involving the consortium, which also includes Heritage Oil, Total of France and the China National Offshore Oil Corporation.

“After many months of discussions, the gover...

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