Companies
Tullow Oil ahead of cash flow targets despite fall in revenue and profits, chief exec says
The company said that the reduction in revenue was driven by a drop in realised post-hedge oil price of around 12 per cent
Tullow Oil has reported that it is ahead of schedule on its free cash flow targets, amid reductions in revenue, profits and net debt, according to its 2023 full year results.
The oil and gas exploration company reported a loss of $110 million for 2023, a drop of almost $160 million compared to profits of $48 million the year previously.
The company reported $1.63 billion in annual total revenue, an 8.4 per cent decrease from ...