Tullow News

 

Norway Fund to Sell E&P Firms

Mar 08, 2019

Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan.The proposal announced on Friday said the fund's stakes in integrated companies, such as Royal Dutch Shell, ExxonMobil and other majors involved in everything from exploration to selling fuel at the roadside…

Tullow Decides $33 Mln Interim Payout

Jul 25, 2019

The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans to disburse at least $100 million a year.The dividend…

Guyana Boosts Gov't Royalties for Future Oil Licenses

Jul 03, 2019

Guyana is preparing to raise the take of the government in future oil licences, the director of the South American country's Department of Energy said on Wednesday.U.S. energy giant Exxon, French group Total and Britain's Tullow Oil are drilling wells offshore Guyana…

Tullow's Kenya, Uganda Projects Timelines Slip

Jun 26, 2019

Britain's Tullow Oil has delayed the final investment decision (FID) for its Kenya project to 2020 and has not yet sealed a tax deal in Uganda that is needed for the progress of its plans there with Total , it said on Wednesday.The company had…

Argentina Grants Offshore Exploration Permits

May 17, 2019

Argentina awarded permits to begin hydrocarbon exploration in 18 areas off the coast of the country in the Malvinas West basin to companies including Exxon Mobil Corp, Total SA, YPF SA and Royal Dutch Shell Plc, the government said on Friday…

Tullow Oil Cuts Output Guidance

Apr 25, 2019

Tullow Oil downgraded its 2019 output guidance to 90,000-98,000 barrels of oil per day (bpd) due to problems at its Ghana fields and sees final go-aheads for its Uganda in the second half while its Kenya project timeline was 'ambitious'.'(Ghana)…

Wintershall Wins Argentina Offshore Bid

Apr 18, 2019

Germany's largest crude oil and natural gas producer Wintershall won the bidding process for two blocks in the promising Malvinas Basin off the coast of Tierra del Fuego as part of the “Costa Afuera” licensing round.In addition to the CMA-1 exploitation concession…

Orinduik Partners to Drill 2nd Well Off Guyana

Mar 29, 2019

Partners Tullow Oil, Total and Eco Atlantic have chosen the Joe prospect for a second well in their much-watched Orinduik oil and gas field off Guyana's coast, Eco said on Friday.Eco earlier this month increased the estimate for the field to about 3…

Uganda, Saipem Take Next Steps for Refinery

Mar 12, 2019

Uganda approved Italian oil services firm Saipem's plan for early engineering work on what is due to become a 60,000 barrel per day refinery in the East African country, a nascent oil producer, Saipem said on Tuesday.In April last year, Uganda signed a deal with a consortium…

Tullow Oil Returns to Net Profit

Feb 13, 2019

Africa-focused Tullow Oil reported its first annual net profit in five years on Wednesday and said it would resume dividends with a 4.8 cent per share payout as it sets its sights on East African projects and drilling in Guyana.As flagged in November…

Uganda Expects Delayed First Oil Production

Feb 13, 2019

Uganda expects to begin producing oil in 2022, its energy minister Irene Muloni said on Wednesday, indicating a slight delay from the east African country's revised target of 2021.Uganda discovered crude reserves more than 10 years ago but production…

Tullow to Boost 2019 Output

Jan 16, 2019

Africa-focused Tullow Oil's production is set to grow to between 94,000 and 102,000 barrel of oil equivalent per day (boed) this year, it said in a trading update on Wednesday, from 90,000 boed last year as it increases output in Ghana.Free cash flow stood at $400 million…

Ghana Exploration Licensing Round Attracts Global Majors

Dec 24, 2018

Sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country's first exploration licensing round, its energy ministry said.The interest is a major vote of confidence in Ghana…

Tullow Oil Debt Down to $2.8 Bln

Nov 15, 2018

Tullow Oil forecast its net debt would drop to $2.8 billion by the end of the year and slightly raised its full-year free cash flow to $700 million, helped by trimming its capital expenditure.The company had previously said it might reach free cash flow of about $650 million…

Uganda Expects First Oil Production in 2021

Nov 08, 2018

Uganda expects to start producing oil in 2021, a year later than initially planned, and its refinery should be up and running by 2023, its oil minister said on Thursday.France's Total is an investor in Uganda's oilfields, with China's CNOOC and Britain's Tullow Oil…

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