March 21, 2013

Tullow Denies Plan To Bribe M7

Tullow oil has denied the allegations that it planned to bribe president Museveni with 127 billion UGX

In a letter to the president the company’s CEO and founder Aiden Harvey says Tullow been in the oil business for 27 years and from humble beginnings has managed to build a very successful oil company “at no point in those 27years did we pay out a  bribe”  Mr. Harvey said.

This letter comes a few hours after President Museveni through his Lawyers Karugire, kiwanuka and company Advocates tasked Tullow to clear his name and also tell him who gave them the idea that they should bribe him and who they paid the money to if at all they paid.

In the letter Tullow says no one working for the company has ever considered Bribing the President and the only payments they have made in Uganda are those required by law. Tullow also promised to help clear the president’s name after the court proceedings are done because they are not allowed to comment on an ongoing case.

This case Is in London where Tullow is battling a suit brought against it by Heritage over a $404 million capital gains tax sought by the Uganda government. The tax claim arise out of  Tullow’s 2010 $1.45 billion buy-out of Heritage’s stake in Uganda’s oilfields

Proceedings in London Also Revealed that Italian Company ENI was the first to try avoiding Capital Gains Tax.

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