Accra — Ghana has won a major international tax dispute against Tullow Ghana Limited. An arbitration tribunal ruled in the country’s favour and upheld a US$393.09 million assessment by the Ghana Revenue Authority (GRA).
The tribunal, operating under the rules of the International Chamber of Commerce (ICC), issued its decision on Tuesday, 29 September 2026. It dismissed all of Tullow’s claims and confirmed the full GRA assessment of US$393,091,993.70.
The dispute concerned the tax treatment of business interruption insurance proceeds Tullow received between 2016 and 2019, linked to operational issues at the Jubilee field. The tribunal held that the assessment did not breach the Petroleum Agreements, the penalty was correctly applied, the assessment was not time-barred, and the GRA’s enforcement steps were lawful.
Finance Minister Dr Cassiel Ato Forson announced the outcome on Wednesday. He said the ruling confirms that every company operating in Ghana must comply with the country’s laws, regardless of its size.
Dr Forson thanked the Office of the Attorney-General, the GRA, and Ghana’s external lawyers, Foley Hoag LLP, for their work. The government will now implement the award under Ghanaian law while protecting ongoing operations and investment in the Jubilee and TEN fields, where Tullow remains the largest petroleum producer.
Tullow said it was disappointed by the decision and will consider its next steps after further talks with the government.
Full Press Release Below :
Story by : Emmanuel Nettey
