Ghana wins US$393m Tullow tax arbitration

‎‎Dr Cassiel Ato Forson, Minister of Finance, said in a statement issued in Accra that the tribunal also ruled that the penalty imposed was properly applied, the assessment was not time-barred and the Ghana Revenue Authority’s enforcement action was lawful.‎‎The Minister said the award came at a critical time when Ghana and the Jubilee partners were working to maximise the prospects of the Jubilee and Tweneboa, Enyenra and Ntomme (TEN) fields.‎‎Dr Forson described Tullow as a vital partner to Ghana and the country’s largest petroleum producer, noting that its operations in the Jubilee and TEN fields supported energy security, domestic gas supply and thousands of Ghanaian livelihoods.