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Tullow says Kenya force majeure allows time to resolve tax issue

Reuters - UK Focus
Updated ·1-min read

LONDON, May 18 (Reuters) - Tullow Oil said it had declared force majeure on its main licences in Kenya, currently working under an early production scheme ahead of a final investment decision, to discuss virus restrictions and tax changes with the government.

Tullow's statement on Monday appeared to refer to tax changes announced by the Kenyan government last month over the economic impact of the coronavirus. It confirmed an earlier statement by its partner Africa Oil.

"Tullow and its partners have called Force Majeure because of the effect of restrictions caused by the coronavirus pandemic on Tullow's work programme and recent tax changes. Calling Force Majeure will allow time... for the Joint Venture and Government to discuss the best way forward," Tullow said.

(Reporting by Shadia Nasralla, editing by Louise Heavens)