Tullow Oil's Exit From East Africa Gathers Steam

The British firm has said it is transferring its assets for the Lake Albert Development project and the proposed East African Crude Oil Pipeline System to Total Uganda at U.S.$575 million as part of its plan to raise more than U.S.$1 billion to reduce debts and strengthen its balance sheet.

A police vehicle escorts trucks loaded with crude oil from Ngamia 8 oil fields in Turkana County (file photo).

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