Struggling Tullow Oil Appoints Rahul Dhir as its New CEO

Share Share on Pinterest Share on Facebook Share on Twitter Rahul Dhir. [PHOTO/ COURTESY] Irish Company Tullow Oil has appointed Rahul Dhir as its new chief executive Officer, with effect from July 1.

Dhir takes over from Dorothy Thompson who currently serves as the executive chair of Tullow.

Mr Dhir is currently CEO of Delonex Energy, an Africa-focused oil and gas company that he founded in 2013. Tullow has been without a CEO since Paul McDade left the business in December 2020.

Before Delonex, Mr Dhir served as managing director and CEO of Cairn India from its IPO in 2006 until 2012. His started his career as a Petroleum Engineer, before moving into investment banking where he led teams at Morgan Stanley and Merrill Lynch, advising major oil and gas companies on merger and acquisition and capital market related issues.

Read: Massive Job Losses Looming At Tullow Oil As Company Issues Redundancy Notice

Mr Dhir is a UK citizen and was educated at the Indian Institute of Technology, the University of Texas, and the Wharton School.

Tullow,which is leading oil exploration operations in Lokichar Oil Basin in Turkana,has been facing financial difficulties in its operations.

In January, the company announced plan to lay off some of its staff in a bid to cut costs.

In a memo to all staff members dated Wednesday, January 5, Martin Mbogo, the Tullow Managing Director in Kenya, stated that the company’s current performance has made it impossible for it to sustain its human resource wage bill, hence, need to restructure its workforce.

“The Company has had to review and assess its financial performance and business operations to ensure resources are allocated in the most efficient way possible and to ensure that the current structure of Tullow meeting the demands of the business effectively, ” the memo reads in part.

“Due to this review it has become necessary to restructure the company with some roles becoming unnecessary.”Read: Tullow Oil Mulls Exiting Kenya Over Uncertain Future The job cuts, according to Mbogo, will be carried out at all levels and cadres of the organization.Some of the employees who will be affected include expatriates, Kenyan nationals in contracts, fixed, and permanent terms.The company, which is a partner with the Kenyan government in the extraction and exportation of the oil, is mulling exiting operations in the country over uncertain future — mixed fortunes in the market.Reports by Reuters indicate that the in conjunction with Total has […]

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