Total fuel cards news: Oil company 'could team up with CNOOC in Uganda'
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08 February, 10 Motorists with Total fuel cards have learned that the company could be set to claim a stake in a major oil field in Uganda. Tullow, the Irish oil exploration firm, will sell half of its stake in the Lake Albert basin to Chinese state-owned company China National Offshore Oil Corporation (CNOOC), in a deal which could net it up to $5 billion (£3.2 billion), the Sunday Times reported. Furthermore, France-based oil group Tullow could take up an equal stake in the fields alongside CNOOC and participate in their development. The field is one of the biggest in Africa, with Tullow previously claiming that as many as 1.5 billion barrels of oil are still to be discovered at Lake Albert. It is expected that Tullow will announce the deal after Ugandan president Yoweri Museveni gives it his approval, which he is expected to do later this week. Total fuel card users may also be aware that last month the company agreed a deal to develop Iraq's Halfaya oil field, in partnership with Petronas and PetroChina. Posted by Steve Clarke 
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