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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd
West Africa-focused independent oil and gas explorer Tullow Oil posted an 87% slump in annual profit on Tuesday.
This was partly due to lower production, while delayed payments from the Ghana government continued to weigh on its finances.
The heavily indebted company had launched a capital overhaul after declining production and overdue payments from the Government of Ghana squeezed cash flow, while selling non‑core assets to streamline its operations across West Africa and steady the business.
The London-listed company’s profit after tax for the year ended December 31, 2025, came in at $7 million, compared with $55 million reported a year earlier.
Source: newsthemegh.com