The CEO of the Upstream Petroleum Chamber, David Ampofo, accompanied by Ops Advisor, Dr Kwame Boakye-Agyei has called on the Commissioner General(CG) of the GRA, Mr. Anthony Kwasi Sarpong. Mr Ampofo congratulated the CG on his new appointment and said the industry was looking forward to his support. There have been several high profile tax […]
Tullow Oil has provided an update in its Trading Report released on November 29, 2024, revealing that the International Arbitration Court in London is preparing to deliver its decision on the tax dispute with the Ghana Revenue Authority (GRA).
Tullow Oil disclosed this in its Trading Update, released on November 29, 2024, to investors.
The court is going ahead with the ruling after hearing arguments from both sides on the issues.
Chief Executive Officer-Ghana Investment Promotion Authority (GIPC), Yoofi Grant, has raised concerns about the harassment of foreign-owned businesses by tax officers from Ghana Revenue Authority (GRA).
Indented in the Guyana’s 2016 Production Sharing Agreement (PSA) with Exxon, is a clear and unequivocal statement (I will break it down in layman language) – renegotiation of the Oil Contract is quite possible as long as there is mutual agreement (Exxon & the Guyana Government) on both sides. It did not specify any limitations to renegotiation because unanticipated fluctuations/market conditions can cut both ways. For simplicity sake, I offer this as an example.
The Chamber of Bulk Oil Distributors (CBOD) has endorsed the Ministry of Energy’s new standard for measurements in the oil and gas sector, aimed at enhancing revenue assurance.
The Chief Executive Officer of the Chamber of Bulk Oil Distributors, Dr. Patrick Ofori, has raised
concerns about the resumption of Strategic Mobilisation Limited (SML) in the monitoring operations
in Ghana’s Downstream Petroleum.
GRA has also decided to amend the measurement Audit for the Downstream Petroleum Products Contract by revising it to fixed fee structure
The Ghana Upstream Petroleum Chamber and Ghana Revenue Authority have started a series of quarterly seminars between them to improve the understanding of each other’s needs and enhance collaboration.
The Ghana Upstream Petroleum Chamber has hosted a seminar for its members with the Ghana Revenue Authority Petroleum Unit, at which they discussed industry tax concerns and how best to resolve them. The concerns revolved around legal and administrative processes.