Heritage Oil disputes Uganda tax case victory claim
LONDON, April 4
LONDON, April 4 (Reuters) - Heritage Oil dismissed Ugandan claims of victory in a tax dispute between the country and the oil company as "inaccurate" and "a misleading representation of a detailed decision" made in a London arbitration hearing.
In a statement on Thursday, the UK-listed oil company, which is resisting paying hundreds of millions of dollars of tax claimed by Uganda on the sale of exploration acreage to another oil company, also said comments made earlier in the day by a Ugandan official were "breaches of the requirement of confidentiality imposed upon both parties to the proceedings."
Arbitration proceedings are continuing, it said.