Total In Talks To Buy Tullow Oil Fields

French oil company, Total, is in talks with London-based explorer, Tullow Oil, to buy a stake in its Ugandan oil fields.

French oil company, Total, is in talks with London-based explorer, Tullow Oil, to buy a stake in its Ugandan oil fields, Reuters reports. Tullow is seeking approval from Uganda before selling stakes in its oil blocks to Total and Chinese group, CNOOC. The approval is pending due to a tax dispute between Uganda and Tullow’s former partner, Heritage Oil. Tullow is planning to develop the east African country’s oil reserves in a project worth a $10 billion in partnership with Total and CNOOC.

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