The ICC Tribunal concluded that the Branch Profit Remittance tax (BPRT) does not apply to Tullow Ghana’s operations under its Petroleum Agreements for the Deepwater Tano and West Cape Three Points blocks, which include the notable Jubilee and TEN fields offshore Ghana.
Kosmos’ statement follows initial disclosures on December 12, 2024, when media reports revealed the early-stage discussions surrounding a potential all-share offer for Tullow.
US player Kosmos Energy has dropped its bid to acquire Africa-focused UK independent Tullow Oil, the two companies announced on Tuesday. Last week, Kosmos unveiled a possible all-share offer to acquire Tullow. It had a deadline of January 9, 2025, to make the offer. The news sent Tullow stocks down 4% while Kosmos stocks enjoyed […]
U.S. oil and gas firm Kosmos Energy walked away from its pursuit of West Africa-focused Tullow Oil on Tuesday, without specifying any reason for the decision, prompting a 10% drop in Tullow’s shares.
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.
Tullow and the Ghana Forestry Commission have completed all requirements to commence full-scale implementation of a joint nature-based carbon offset project, launched earlier this year.
Commercial exports are expected in 2028.
EPRA has extended the Field Development Plan review to December 31.
Tullow Oil is yet to make much headway in its search for a strategic partner, which remains one of the key aspects needed to move Kenya’s oil project forward.
The Sh258 million paid to the Turkana county government was a settlement for accrued levies chargeable under the devolved unit’s Finance Act, Tullow Oil Company has said.