Magufuli Tells Museveni Not To Be Too Greedy With Oil

Tanzanian President John Magufuli has told Ugandan President Yoweri Kaguta Museveni to stop focusing on the short-term gains in terms of taxing oil companies and focus on the longer-term, benefits saying tax issues were delaying the oil pipeline project. This comes after plans to sign the final investment decision collapsed when Tullow Oil failed to sell 21.5% of its stake for U.S.$900 million to its partners - France's Total E&P and China's CNOOC last week.

President John Magufuli was hosting President Yoweri Museveni at the Tanzania-Uganda Business Forum in Dar es Salaam.


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