Tullow, in April, announced the sale of its remaining 33.33 per cent stake in Uganda to French oil giant Total E&P to raise $575m (about Shs2.1 trillion), amid the company’s financial doldrums. FILE PHOTO Cnooc’s decision not to pre-empt makes validation of the deal even much easier, giving Total E&P majority shareholding of 66.66 per […]
Tag: tullow oil
CNOOC will not exercise rights to buy Tullow stake in Uganda fields
A Tullow Oil drilling site in Kenya. Photograph: Baz Ratner/Reuters CNOOC will not exercise its rights to buy half of Tullow Oil’s share in onshore oil fields in Uganda that the company has agreed to sell to Total. In April, Tullow said it had agreed a deal with Total to sell its entire stake in […]
Only 3 Ghanaian Companies In Africa’s Top 250 …No Entry In Top-30 – Report
The African Business magazine has released this year’s top-250 African companies survey, which highlights the overall carnage in African share valuations over the last year – and Ghana made only three entries. Ghana’s first entry was chalked by Tullow Oil, in 39th position with a market capitalization of US$2,888million. Standard Chartered Bank came second after […]
Tullow Oil says 58 workers test positive for COVID-19 offshore Ghana
ACCRA (Reuters) – Fifty-eight workers tested positive for COVID-19 at an oil production facility run by Tullow Oil off Ghana’s Atlantic coast, the company said in a statement on Friday. Fifty-seven workers tested positive on a support vessel for a floating production and storage (FPSO) tanker. Another worker tested positive on the FPSO itself, but […]
Tullow Oil advances Uganda asset sale as CNOOC says pass to pre-emption
The transaction process continues, with tax procedures to come next. Tullow Oil PLC ( LON:TLW ) told investors that China’s state oil firm has decided not to exercise pre-emption rights which would’ve seen it jump into the Uganda asset sale to Total, announced last month. In April, Tullow announced a US$575mln transaction with Total, with […]
Tullow Oil confirms 58 Covid-19 cases in Ghana oil production facility
UK-based oil and gas company Tullow Oil has confirmed that 58 workers tested positive for Covid-19 at an oil production facility offshore Ghana’s Atlantic coast. All infected workers have been transferred onshore for treatment, reported Reuters. Despite the Covid-19 outbreak, Tullow Oil said that production remains unaffected. The affected employees included one worker on board […]
Key firms stoke up EDP’s cycle plant and Spanish sale to Total
Lawyers from Gide Loyrette Nouel have acted as legal counsel to Total on its acquisition of two combined cycle plants and the Spanish business of Portuguese electric utilities company Energias de Portugal (EDP), for EUR 515 million. King & Wood Mallesons provided legal advice to Lisbon-headquartered EDP. The acquisition follows French oil and gas firm […]
Kweku Awotwi explains his early retirement from Tullow Ghana
Kweku Awotwi, outgoing Executive Vice President and Managing Director of Tullow Oil Outgoing Managing Director of Tullow Ghana, Kweku Awotwi, has revealed the reason for his exit three months before the actual date. Kweku Awotwi, who retires from the company on June 30 instead of September this year, will hand over his responsibilities to Wissam […]
Kenya disputes Tullow oil project compensation bill
Kenya has rejected a fraction of the compensation sought by British oil explorer Tullow Oil and its partners amounting to Sh16 billion ($150 million) for the firm’s eight-year work in the Turkana County oil fields. Tullow has disclosed that the government has dismissed the Sh16 billion out of the Sh204 billion compensation bill that the […]
Coronavirus: Curtailing oil revenue shortfalls a huge task for govt – Awotwi
Kweku Awotwi, outgoing Executive Vice President and Managing Director of Tullow Oil PLC Departing Managing Director of Tullow Ghana, Kweku Awotwi, has cautioned government faces a huge task in curtailing oil revenue shortfalls due to the impact of the coronavirus. This follows Ghana losing out on its projected oil revenue generation following the drop and […]