Tullow Plc gained after an international body found it wasn’t liable for a $320 million tax assessment in Ghana, where its key oil assets are located.

Tullow Oil said on Thursday the International Chamber of Commerce (ICC) has ruled that the Branch Profit Remittance Tax (BPRT) does not apply to its operations in the Deepwater Tano and West Cape Three Points fields offshore Ghana.

Tullow Oil (OTCPK:TUWLF) (OTCPK:TUWOY) +11.6% in London trading after an international tribunal found it is not liable for a $320M tax assessment in Ghana, where its key oil assets are located. The International Chamber of Commerce ruled Ghana's branch profit remittance tax assessment "falls outside of the tax regime provided for in the petroleum

A massive fire swept through Kantamanto Market in the early hours of Jan. 2, destroying more than 100 shops and causing millions of cedis in damages. The blaze, which began around 1:19 a.m. local time,