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Tullow has agreed to sell its entire working interests in Gabon for $300m in cash, as part of efforts to reduce its debt

Tullow Oil swings to profit on lower impairments

West Africa-focused oil and gas explorer Tullow Oil swung back to profit last year, it said today, largely helped by a reduction in impairments and asset revaluation gains.

Business • 25 Mar

Tullow Oil has appointed its finance chief Richard Miller as interim CEO

Tullow Oil names Richard Miller as interim CEO

West Africa-focused Tullow Oil has appointed its finance chief Richard Miller as interim chief executive officer, effective from February 14.

Business • 04 Feb

Tullow Oil CEO Rahul Dhir is to leave the company next year

Tullow Oil's CEO Rahul Dhir to step down

West Africa-focused Tullow Oil said today that its chief executive Rahul Dhir will step down and also resign from the board next year.

Business • 05 Dec 24

Tullow's shares slide as it cuts free cash flow forecasts

Shares of Tullow Oil fell as much as 10% in London trade today after the West Africa-focused oil company cut its full year free cash flow view to $150-$200m from its previous estimate of $200-$300m.

Business • 28 Nov 24

Tullow Oil booked $435m in impairments and write-offs, including over $301m for reduced reserves at its TEN oilfield in Ghana amid investment delays

Tullow Oil posts loss of $110m for 2023

Tullow Oil swung into a loss in 2023 after cutting the value of reserves in its flagship West African oilfield as its chief executive said the company would consider shareholder returns after 2025.

Business • 06 Mar 24

Tullow Oil signs $400m debt facility deal with Glencore

Tullow Oil said today it had signed a $400m five-year debt deal with Glencore to help manage its senior notes maturing through 2026 and will see the trading house take over marketing the crude from its flagship Ghana oilfields.

Business • 13 Nov 23

Tullow Oil expects to produce between 59,000-65,000 barrels of oil equivalent a day this year

Tullow Oil upbeat for second half of 2022

Africa-focused Tullow Oil said today it expected to make $200m in free cashflow this year at an average oil price of $95 a barrel, adding that it sees no cashflow in the first half after an arbitration payment and an acquisition.

Business • 13 Jul 22

Tullow Oil said its loss after tax fell to $81m from a loss after tax of $1.222 billion in 2020

Tullow Oil's losses for 2021 narrow, revenues dip

West Africa-focused Tullow Oil has reported a narrowing of losses for 2021 as its revenues for the year dropped.

Business • 09 Mar 22

Tullow Oil raises hedging to 75% of output for 2 years

Africa-focused Tullow Oil said today that it was increasing the volume of oil it protects with hedging to 75% of the company's output for the next two years, with plans for a further 50% increase for a year beyond that.

Business • 16 Jun 21

Dorothy Thompson is to step down as Tullow chair after nearly three years in the role

Tullow Oil chairwoman Dorothy Thompson to step down

Africa-focused Tullow Oil said today that Chairwoman Dorothy Thompson would step down towards the end of the summer after nearly three years in the role.

Business • 02 Jun 21

Tullow rejigs debt with offer of $1.8 billion in notes

Tullow Oil said today it was offering notes worth $1.8 billion and had received $600m in commitments from lenders as part of a flagged debt refinancing.

Business • 29 Apr 21

2020 was a year of major change for Tullow Oil, its CEO Rahul Dhir said

Tullow Oil expects $500m 2021 cashflow at $50 oil price

Africa-focused Tullow Oil said today it expected to generate $500m in operating cashflow this year at an oil price of $50 a barrel, which is around $15 a barrel below the current price.

Business • 10 Mar 21

Tullow's new strategy focuses on west African oilfields

Tullow Oil will commit 90% of its investments in coming years on its existing oilfields offshore West Africa and move exploration activities to the back burner as it seeks to reduce its debt burden.

Business • 25 Nov 20

Tullow Oil reports $1.3 billion half yearly loss

Tullow Oil is exploring ways to fend off a potential cash crunch as the London-listed group reported a $1.3 billion loss after it was forced to write down $1.4 billion due to collapsing demand for oil.

Business • 09 Sep 20

Tullow Oil sees H1 impairment of $1.7 billion

Tullow Oil said today it was set to book $1.4-1.7 billion in impairments before tax in its half-year results, due on September 9, as it follows larger rivals in lowering its oil price forecasts.

Business • 29 Jul 20

Tullos is facing unprecedented turmoil in the oil markets as lockdowns to contain the new coronavirus have wiped out demand

Tullow sells stake in Uganda project to Total for $575m

Tullow Oil said today that Total has agreed to buy its entire stake in their joint onshore oil fields in Uganda for $575m as part of its target to raise $1 billion this year to tackle its $2.8 billion debt pile.

Business • 23 Apr 20

Tullow Oil names Rahul Dhir as its new CEO

Tullow Oil appoints Delonex chief Dhir as new CEO

Tullow Oil has today appointed Rahul Dhir, who currently leads Africa-focused oil and gas producer Delonex, as its new chief executive.

Business • 21 Apr 20

Rahul Dhir