Tullow oil surges after Ghana tax arbitration case win By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 03 2025
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Source: Investing.com
Tullow Oil's Arbitration Victory: Tullow Oil shares surged over 10% following a favorable arbitration ruling from the International Chamber of Commerce, which determined that Tullow Ghana is not liable for a $320 million tax assessment related to the Branch Profit Remittance Tax.
Ongoing Tax Disputes: The company is still engaged in discussions with the Government of Ghana regarding two additional disputed tax claims, aiming for a resolution that optimizes value from its operations in the Jubilee and TEN fields.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
