The two leaders held rallies at the Ugandan and Tanzanian side of the border and later laid a foundation stone at one of the proposed corridors for the proposed East African Crude oil Pipeline EACOP.
The announcement came just few hours after an international maritime tribunal backed cleared Ghana of allegations that it was drilling for oil within Ivory Coast boundary cutting through lucrative offshore oil fields.
The business remains well funded and at the end of April 2016, net debt is estimated at approximately 4.5 billion and unutilised debt capacity and free cash at approximately 1.3 billion.The Groups 2016 forecast capital expenditure has been reduced from 1.1 billion to 1.0 billion following the identification of savings across the portfolio with further reductions expected.
The Parliamentary Legal Affairs Committee has recommended a reduction in funding for the now controversial Heritage Oil arbitration case in London, United Kingdom.
The Attorney General Peter Nyombi on Friday afternoon survived being served an arrest warrant by parliament after he snubbed summons to appear before the legal and parliamentary affairs committee for a third time.
