Thursday September 24, 2020

‘Plump’ years ahead for slimmed-down Tullow

If the price of oil continues to rise, a shareholder dividend could be on the cards, Aidan Heavey believes

Ian Guider

Markets Editor

12th February, 2017
Aidan Heavey, chief executive of Tullow Oil Picture: Feargal Ward

Over the last three years, Irish oil explorer Tullow has lost billions of dollars on the back of the slump in the price of crude.

It has also written down the value of its oil fields and has shed more than €500 million from its costs, including painful job losses.

As long-serving chief executive and founder Aidan Heavey hands over the reins to Paul McDade, he believes the company has been whipped back into shape.

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