Tullow Oil in profit surge

first_img John Dunne whatsapp Tags: NULL Show Comments ▼ Pre-tax profits at Tullow Oil jumped by 361 per cent to $152m (£94m) after oil price rises and successful explorations. The FTSE 100 oil explorer saw a 19 per cent rise in revenues to $1bn in the year to 31 December.The Africa-focused company benefited from rising oil prices, selling its crude at an average price of $78 a barrel last year, up from $60 in 2009.Tullow chief executive Aidan Heavey said the outlook was “very positive”.The company has begun production of its first oil from the Jubilee field off Ghana, with the full benefits starting to feed through to Tullow this year.Tullow produced a better-than-expected 58,000 barrels of oil and gas per day last year. But as Jubilee ramps up, production is expected to rise to between 86,000 and 92,000 barrels.The company said progress on a key deal in Uganda to bring in two new partners, French oil major Total and Chinese giant CNOOC, had been hit by elections in the country. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldcenter_img Share whatsapp Wednesday 9 March 2011 3:56 am Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tullow Oil in profit surge last_img

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