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DP to petition European Union parliament over Tullow oil questionable deals with president Museveni

Gerald Businge — Fri, 24 Feb 2012 17:30:19 +0000

President Museveni might have used his powers to direct his minister for energy to sign an oil deal with Tullow Oil without the support of the people he rules, but the wrath of Ugandans keeps on growing every day. The members of the Democratic Party, the oldest opposition party in Uganda have vowed to petition European Union Parliament asking it to investigate the deal oil companies, Tullow Oil and Total signed with Uganda. The party has also threatened to mobilize its supporters to stage demonstrations in case diplomacy fails.

A senior member of DP told our informers that their petition would be faxed directly to European Union parliament because the intelligence network in Uganda reportedly opens and seizes documents which are deemed to be exposing the government dirt. The Democratic Party is also planning to mobilize the members of other opposition parties to join its ranks in fighting the ‘illegal oil deal’ president Museveni carried out with Tullow.

The Democratic Party plans to copy its petition to president Museveni, Uganda Parliament, France and China. After the government signed the oil deal with Tullow oil, the company immediately sold 66.6% of its shares to China’s CNOOC oil group of companies and Total France.

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‘Scientists say after 20 years oil will lose value’

Gerald Businge — Tue, 14 Feb 2012 14:57:27 +0000

President Museveni has told the parliament of Uganda that scientists in USA recently told him that after 20 years oil would lose value. The MPs asked the president to show evidence that indeed the scientists told him and which scientists the president could not reveal anything.

But he told them that it was those scientists who even advised him to sign oil agreements without the consent of Ugandans or parliament. Tullow Oil signed two production-sharing agreements with Uganda, last month allowing it to complete a deal with Chinese group CNOOC and French company Total that will pave the way for commercial oil production.

The MP for Lwemiyaga County, Theodre Sekikubo has told journalists this morning that the Uganda president is slowly becoming an international liar.

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Tullow Oil, CNOOC, Total agree to jointly produce Uganda’s oil

Gerald Businge — Wed, 30 Mar 2011 20:23:02 +0000

Uganda is now set for the steady development of its oil sector following the entry of CNOOC and Total into the oil processing and production industry of the country.

Key oil prospecting firm Tullow Oil announce that it signed Sale and Purchase Agreements (SPAs) with CNOOC and Total in respect of the sale of a one third interest to each party of the interests Tullow holds in Exploration Areas 1, 2 and 3A in Uganda.

Oil drilling in western Uganda

Tullow will retain a one third interest in a move the government of Uganda insisted would ensure there is no monopoly in Uganda’s oil sector. Tullow will be paid US$2.9 billion cash for 2/3 of its stake in the blocks in mid western Uganda that were declared ready for oil production.
Under the MoU, Tullow and its new Partners, CNOOC and Total, have been granted new licences over EA-1 and an onshore area of EA-3A and the partnership’s rights to develop the Kingfisher discovery.

According to a statement from Tullwo Oil, a clear plan for the resolution of tax disputes on the various asset sales has been agreed by the GoU, the URA and Tullow. “The next step is for Tullow to make certain tax related payments to the GoU, on receipt of which all relevant consents become final and the other provisions of the MoU become effective,” the statement reads in part.

Brain Glover the General Manager Tullow Oil Uganda told journalists in Kampala today that with the signing of these SPAs, a key condition of the Memorandum of Understanding (MoU) agreed between Tullow, the Government of Uganda (GoU) and the Uganda Revenue Authority (URA) on 15 March 2011, has been satisfied. He said the SPA with CNOOC and Total will allow the companies to jointly construct the $10billion oil refinery in Uganda.

“ Tullow, its partners and the Government of Uganda will now agree a development plan for the Lake Albert Rift Basin with a target of delivering production of at least 200,000 bopd and potentially much more as we continue to explore and appraise the basin. We are looking forward to working with CNOOC and Total, and continuing our strong relationship with the Government to bring the benefits of the oil to the people of Uganda,” Aidan Heavey, Chief Executive of Tullow Pls said yesterday.

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