Friday October 30, 2020

Tullow over a barrel as oil price at 12-year low

Shares that once hit £16 now trading at 130 pence

Ian Guider

Markets Editor

17th January, 2016
Aidan Heavey chief executive of Tullow Oil Picture: Bloomberg News

There’s a joke going around at the moment that the only people making money from the oil business right now are western governments still raking the cash in from huge taxes and excise duty on petrol.

The price of oil continued its seemingly endless slide again last week, falling below $30 a barrel for the first time in a dozen years, nearly 80 per cent below its peak a few years ago.

Countries like Saudi...

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