Energy

Tullow Oil records US$110m loss in 2023

Tullow Oil has recorded a loss after tax of 110 million dollars for its operations in 2023. This was announced by the oil exploration company after it released its 2023 full year results in London today (March 6, 2024). The loss can be attributed to an impairment on the Tweneboa, Enyenra and Ntomme (TEN) development, whose fields are going into decline. Tullow’s loss is coming after posting 49 million dollars profit in 2022. Tullow’s revenue for 2023 stood at 1.6 billion dollars compared to 1.7 billion dollars posted for 2022. CEO on 2023 performance and outlook Despite the challenging numbers...
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