Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Tullow Oil Wins Ruling Against Heritage for Uganda Tax Bill

Tullow Oil Plc, a U.K. oil and gas explorer, said a London court ruled in its favor and against Heritage Oil Plc in a dispute over a tax bill in Uganda.

Tullow bought interests in two blocks in the Lake Albert Basin from Heritage in 2010 for about $1.5 billion. In 2011, London-based Tullow paid the Ugandan government $313 million in capital gains tax after Heritage refused to pay and the government threatened to block the deal.

The judge “found in favor of Tullow’s indemnity claim for $313 million in its entirety and also dismissed Heritage’s counterclaim,” Tullow said in a statement. “A further hearing will be scheduled in due course to address matters arising from the judgment such as the amount of interest Heritage owes.”

Tullow rose 1.5 percent to close at 1,048 pence in London trading. Heritage fell 2.1 percent to 139.2 pence.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.