Tullow Oil Withdraws $900m Ugandan Stake Sale to Total and Cnooc

Tullow Oil has been forced to cancel a $900m deal to sell a significant stake in an oil project in East Africa to Total of France and China’s Cnooc after the parties failed to resolve a tax dispute with the Ugandan government.  Shares in the London-listed oil explorer were recently down 3.5 per cent after it said it had been unable to agree a further extension to the deal, originally