Tullow Oil reports $1 billion loss for 2015
Announces progress of cost cutting measures for 2016
Irish oil and gas exploration firm Tullow Oil has reported a loss of $1 billion for 2015.
The company attributed the loss to the decline in the oil price, which saw its revenues slip by 27 per cent for 2015 compared to the previous year.
Tullow’s debt at the end of the year was $4 billion.
The company said its TEN Project in Ghana is over 85 per cent complete and on track ...
