Tullow Oil, a West Africa-focused energy firm, has cut its 2025 production forecast to 40,000–45,000 barrels of oil equivalent per day (boepd) from 50,000–55,000 boepd due to the sale of its Gabonese assets, per Reuters. The company reported a first-half loss of $80 million, down from a $106 million profit last year, driven by lower revenues and higher costs, with shares dropping 10%. Interim CEO Richard Miller emphasized optimizing Ghana’s Jubilee oilfield and refinancing efforts.
Operating mainly in Ghana, Côte d’Ivoire, and other African nations, Tullow’s first-half output averaged 40.6 kboepd, excluding Gabon. The Tullow Oil production cut signals strategic shifts amid financial challenges. Stay updated on Tullow’s performance and Ghana’s oil sector!
Source: myjoyonline
