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LONDON - Tullow Oil (LON:TLW) PLC has released a revised version of its 2024 payments to governments report, which details the payments made to various governments for the year ended December 31, 2024. The update, which does not change any figures but provides a new link to access the report, follows an earlier announcement on May 9, 2025.
The report, prepared in accordance with the UK’s Reports on Payments to Governments Regulations and the Financial Conduct Authority’s Disclosure and Transparency Rules, outlines the payments made by Tullow Oil to governments on a country-by-country and licence-by-licence basis. It includes production entitlements, income taxes, royalties, bonus payments, licence fees, and infrastructure improvement payments.
In Gabon, Tullow Oil reported income taxes of $105,052,000 and royalties amounting to $24,257,000. The company’s operations in Ghana resulted in income taxes of $253,069,000, production entitlements worth $61,635,000 in barrels converted to the 2024 average realized oil price of $76.40 per barrel, and additional payments including royalties and infrastructure improvement payments totaling $2,321,000. Kenya saw royalty payments of $1,915,000 and licence fees of $343,000, while Argentina’s licence fees amounted to $458,000. The company also reported a royalty payment of $878,000 in the United Kingdom (TADAWUL:4280).
The consolidated payments to governments report aims to increase transparency in Tullow Oil’s financial dealings with national authorities, in line with regulatory requirements. The full report is now available on Tullow Oil’s website and the National Storage Mechanism, providing stakeholders with detailed financial information regarding the company’s contributions to government revenues in the countries where it operates.
This factual update is based on a press release statement from Tullow Oil PLC and has been released by RNS, the news service of the London Stock Exchange (LON:LSEG).
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