magazineTullow steps back in Uganda
Oil producer Tullow Oil (TLW), a one-time constituent of the
FTSE 100, is set to complete the long-awaited farm down of its stake in Uganda’s first ever oil development. The $900m transaction with French partner Total (FP:EPA) will see the company hand over two-thirds of its stake in the Lake Albert project, leaving it with 12%. This move should reduce cash requirements for the heavily indebted business. (TS)
Important information:
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell Youinvest.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
