Tullow Oil Receives Positive Decision Over Tax Dispute in Ghana

Like
Comment
Favorite

Tullow Oil Receives Positive Decision Over Tax Dispute in Ghana

Dow Jones01-02

By Michael Susin

Tullow Oil said it received a favorable decision from the International Chamber of Commerce, saying it isn't liable to pay a $320 million tax issued by Ghanaian authorities.

The West Africa-focused hydrocarbon producer said Thursday that an ICC tribunal decided the charge, which was issued by the Ghana Revenue Authority, wasn't applicable due to certain agreements.

The ICC arbitration seeks to resolve disputes in different countries instead of pursuing litigation in a court of law.

The company added that it continues to engage with the Ghanaian on two further disputed tax claims, which were referred to the ICC in February 2023.

"We are delighted with the outcome and decision of the tribunal, which affirms our assessment and removes a material overhang from our business," Chief Executive Rahul Dhir said.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

January 02, 2025 12:55 ET (17:55 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

No comments yet

抱歉，当前请求异常(-1)

7x24

All

05:42
Singapore Telecommunications' technology services arm NCS is expanding its business in the Asia-Pacific region by forming a joint venture with Globe Telecom in the Philippines.The technology company announced on Thursday (March 27) that its wholly-owned subsidiary NCSI Holdings has acquired a majority stake in Globe's Philippine IT unit Yondu. The company said in a statement that this move will enable customers to better access digital, cloud, data and artificial intelligence services.NCSI Holdings will acquire a 51% stake in Yondu for a total net consideration of 134 million Philippine pesos (S$3 million), net of Yondu's acquisition of existing NCS subsidiary NCSI Philippines for 818 million pesos.After the transaction is completed, the company's value will reach approximately 1.9 billion pesos. The new company will be renamed NCS Philippines.NCS CEO Wong Kok Kiong said: "Globe and Yondu's deep national expertise, combined with NCS's technological capabilities, will enhance our ability to further drive business transformation and innovation, especially in the telecommunications field."Through the joint venture, NCS' local workforce in the Philippines will increase from 150 to more than 1,200, and its global delivery network will be improved - combining NCS' delivery capabilities and capacity with Yondu's resources and skills.Globe President and CEO Ernest Cu said the collaboration will "unlock new global opportunities" and enable Yondu to expand its global footprint and deliver more impactful IT solutions.
05:41
Synektik Sa - Resolves to Divide Company via Transfer Company's Cardiotracer and Centre for New Molecule Research to Another Company
05:38
Muscat Gases - Appoints Sami Mohammed as CFO
05:35
Welspun Enterprises Ltd - Approved Sale of Its Entire Stake in Kim Mandvi Corridor
05:33
PPC Ltd - Board Approves R3 Billion Cement Plant in Western Cape

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2500977469?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2025-01-03 01:55","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2500977469","market":"us","top_or_hot":-1,"title":"Tullow Oil Receives Positive Decision Over Tax Dispute in Ghana","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Michael Susin \n</p>\n<pre>\n \n</pre>\n<p>\n  Tullow Oil said it received a favorable decision from the International Chamber of Commerce, saying it isn't liable to pay a $320 million tax issued by Ghanaian authorities. \n</p>\n<p>\n  The West Africa-focused hydrocarbon producer said Thursday that an ICC tribunal decided the charge, which was issued by the Ghana Revenue Authority, wasn't applicable due to certain agreements. \n</p>\n<p>\n  The ICC arbitration seeks to resolve disputes in different countries instead of pursuing litigation in a court of law. \n</p>\n<p>\n  The company added that it continues to engage with the Ghanaian on two further disputed tax claims, which were referred to the ICC in February 2023. \n</p>\n<p>\n  \"We are delighted with the outcome and decision of the tribunal, which affirms our assessment and removes a material overhang from our business,\" Chief Executive Rahul Dhir said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Michael Susin at michael.susin@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 02, 2025 12:55 ET (17:55 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tullow Oil Receives Positive Decision Over Tax Dispute in Ghana</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTullow Oil Receives Positive Decision Over Tax Dispute in Ghana\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-03 01:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Michael Susin \n</p>\n<pre>\n \n</pre>\n<p>\n  Tullow Oil said it received a favorable decision from the International Chamber of Commerce, saying it isn't liable to pay a $320 million tax issued by Ghanaian authorities. \n</p>\n<p>\n  The West Africa-focused hydrocarbon producer said Thursday that an ICC tribunal decided the charge, which was issued by the Ghana Revenue Authority, wasn't applicable due to certain agreements. \n</p>\n<p>\n  The ICC arbitration seeks to resolve disputes in different countries instead of pursuing litigation in a court of law. \n</p>\n<p>\n  The company added that it continues to engage with the Ghanaian on two further disputed tax claims, which were referred to the ICC in February 2023. \n</p>\n<p>\n  \"We are delighted with the outcome and decision of the tribunal, which affirms our assessment and removes a material overhang from our business,\" Chief Executive Rahul Dhir said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Michael Susin at michael.susin@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 02, 2025 12:55 ET (17:55 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TUWOY","symbol_name":"Tullow Oil Plc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2500977469","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2500977469","pubTimestamp":1735840500,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Tullow Oil said it received a favorable decision from the International Chamber of Commerce, saying it isn't liable to pay a $320 million tax issued by Ghanaian authorities.The West Africa-focused hydrocarbon producer said Thursday that an ICC tribunal decided the charge, which was issued by the Ghana Revenue Authority, wasn't applicable due to certain agreements.The ICC arbitration seeks to resolve disputes in different countries instead of pursuing litigation in a court of law.The company added that it continues to engage with the Ghanaian on two further disputed tax claims, which were referred to the ICC in February 2023.\"We are delighted with the outcome and decision of the tribunal, which affirms our assessment and removes a material overhang from our business,\" Chief Executive Rahul Dhir said.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TUWOY":"Tullow Oil Plc.","BK4213":"石油与天然气的勘探与生产"},"translate_title":"图洛石油公司在加纳税务纠纷中获得积极裁决","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TUWOY":0.9},"content_text":"By Michael Susin \n\n\n \n\n\n  Tullow Oil said it received a favorable decision from the International Chamber of Commerce, saying it isn't liable to pay a $320 million tax issued by Ghanaian authorities. \n\n\n  The West Africa-focused hydrocarbon producer said Thursday that an ICC tribunal decided the charge, which was issued by the Ghana Revenue Authority, wasn't applicable due to certain agreements. \n\n\n  The ICC arbitration seeks to resolve disputes in different countries instead of pursuing litigation in a court of law. \n\n\n  The company added that it continues to engage with the Ghanaian on two further disputed tax claims, which were referred to the ICC in February 2023. \n\n\n  \"We are delighted with the outcome and decision of the tribunal, which affirms our assessment and removes a material overhang from our business,\" Chief Executive Rahul Dhir said. \n\n\n \n\n\n  Write to Michael Susin at michael.susin@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 02, 2025 12:55 ET (17:55 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}