Tullow Oil publishes details of payments to governments
Irish oil explorer paid UK government $51m in income tax in respect of North Sea assets
Tullow Oil has published details of payments made to governments last year in respect of its activities in several countries.
The Irish company, which is based in London, revealed total payments to nations in terms of production entitlement, income taxes, dividends and licence fees amounted to $209 million (€183 million).
This was down on the $295 million paid in 2015 and reflects the decrease in oil prices globally.
About a third of all the money remitted to governments ($71 million) came in the form of income tax.
The largest single income tax payment ($51 million) was paid to the UK government in respect of its North Sea assets.
Tullow received just over $1 million from the Irish Government in the form of a tax credit.
Menu