Tethys Petroleum Receives Tax Assessment from Swedish Authorities

Sweden’s Tax Agency assessed Tethys Petroleum 180,882,736 Swedish krona in taxes and late interest after finding that its 2021–2023 profit allocation with Omani subsidiary Tethys Oil Block 3&4 Limited did not meet arm’s-length pricing rules. Payment is due by November 26, 2026. Tethys is reviewing the decision and professional advice and is considering legal remedies, including a possible lawsuit in Sweden’s Administrative Court. The company said the assessment does not reflect a prior accounting error and will not require retrospective financial adjustments.