Ghana Wins Tax Dispute with Tullow Oil, the Operator of Its Biggest Offshore Fields ‎

Ghana has won a major tax dispute with London-listed Tullow Oil, which operates the country's largest offshore oil fields.

An International Chamber of Commerce arbitration tribunal rejected Tullow's challenge to taxes on insurance proceeds linked to its operations

The tribunal delivered its award on 29 September 2026. Ghana's Ministry of Finance says it upholds the Ghana Revenue Authority's assessment of about $393 million in full.

The tribunal found the assessment did not breach Tullow's petroleum agreements. It also found the penalty was properly applied, the assessment was not time-barred, and the GRA's enforcement action was lawful.

Tullow said it was disappointed and would consider its next steps after further engagement with the Ghanaian government.

Finance Minister Cassiel Ato Forson said the government would seek to recover the money while preserving Tullow's ability to keep operating and investing.

The Ministry said it would take into account the need to maintain operations at the Jubilee and TEN fields.

Ghana is among Africa's notable oil producers, ranking behind Nigeria, Libya, Algeria, Angola, Egypt, Congo and Gabon on some lists.

Mustapha Bature Sallama
Medical/ Science Communicator,
Private Investigator, Criminal Investigation and Intelligence Analysis,

International Conflict Management and Peacebuilding. (USIP)

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+233555275880

Sources
Graphic Online, 30 Sept 2026: https://www.graphic.com.gh/news/general-news/ghana-wins-us-393m-tullow-tax-arbitration.html

Ghana News Agency, 30 Sept 2026: https://gna.org.gh/2026/09/ghana-wins-393-million-tullow-tax-arbitration/

Sikaman Times, on the Ministry of Finance statement: https://sikamantimes.com/ghana-wins-tullow-tax-arbitration-case-393m-assessment-upheld/

GhanaWeb, on Tullow's notice to investors: https://www.ghanaweb.com/GhanaHomePage/business/Ghana-Tax-Dispute-Tullow-Oil-responds-to-US-196-5-million-ICC-ruling-2054527

Reuters, via CNBC Africa, 30 Sept 2026: https://www.cnbcafrica.com/2026/tullow-oil-loses-196-5-million-tax-dispute-against-ghana

BusinessDay (Reuters), 30 Sept 2026: https://www.businessday.co.za/world/2026-09-30 -tullow-oil-loses-1965m-in-ghana-tax-dispute/

Les Afriques, 2026 overview of African producers: https://lesafriques.com/2026/02/lexploitation-petroliere-en-afrique-enjeux-impacts-et-perspectives-en-2026/