Lake Albert Tullow Oil produced 77,700 barrels per day in the first half of the year, while the realised oil price was $52 per barrel. Revenues were around $700 million, of which hedging receipts made up $131mn. Tullow said it had cut its oil price assumptions and as a result it expected impairment and exploration […]
Tullow Oil is now quitting Uganda Tullow Oil plc (Tullow) shareholders have approved its sale of the interest in Uganda’s oil industry, removing one of the key hurdles for the transaction to be concluded. Tullow Oil said in April that it had signed a deal to sell all its stake in the project to France’s […]
Image Courtesy/ The construction of East African Crude Oil Pipeline (EACOP) will soon take shape going by Tanzania’s allocation of a budget to fast track deliberations on four key areas and compensations for the implementation of the project. Tanzania has set aside about US $430 000 from its 2020/21 budget to finance the said tasks. […]
Anglo — Irish Tullow Oil Plc shareholders yesterday afternoon voted by 99 per cent majority to sell the company’s entire stake (33.33 per cent) in Uganda’s oil fields and the proposed East African Crude Oil Pipeline (EACOP). The transaction is expected to be completed in the coming months. In a statement issued yesterday, Tullow indicated […]
Tullow Oil Plc shareholders are set to approve the company’s sale of all its assets in the Lake Albert Development project to Total E&P Uganda BV. In a statement, Tullow Oil Plc said it has called a general meeting to allow shareholders approve the sale and consequently the company’s exit from Uganda’s oil and gas […]
Government has concluded drafting three different pieces of legislation that will inform how money from the Petroleum Fund in Bank of Uganda. A fortnight after closing a deal where it offloaded its stake in the Albertine Grabben projects to French oil major Total, Tullow Oil has written to the Ugandan government to expedite transaction approvals […]
Kenya has to offer a more stable fiscal framework if the country is to harness its potential as a budding oil exporting economy, according to UK-listed independent Tullow Oil. Tullow made the comment in response to the Kenyan government’s recent decision to start charging 14pc VAT on goods imported or purchased locally by the firm. […]
Deputy Energy Minister Dr Mohammed Amin Adam says Tullow Ghana’s announcement of a new non-Ghanaian Managing Director cannot be official as the company must first discuss the matter with government. In a yet to be aired interview on PM: EXPRESS on the JOY NEWS Channel on Monday, June 1 at 9 pm, Dr Amin Adam […]
Tullow Oil workers at a rig in Buliisa, Uganda. About 100 oil firms expressed interest in the second round of licensing for new blocks last year. PHOTO | FILE | NMG A fortnight after closing a deal where it offloaded its stake in the Albertine Grabben projects to French oil major Total, Tullow Oil has […]
Company agreed to sell stake in joint onshore oil fields to Total for $575m A Tullow Oil drilling site in Kenya. Photograph: Baz Ratner/Reuters Tullow Oil has issued a circular to shareholders about its proposed sale of of its stake in a Uganda project to Total for $575 million (€512 million). The company, said in […]
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