FPSO offshore Ghana
Troubled Tullow mulls Kenya options
The future of the Anglo-Irish independent’s Kenyan assets hangs in the balance as it puts its money on Ghana
Debt-burdened Tullow Oil showed only a marginal improvement in its 2020 performance compared to 2019. And so the firm is looking at monetisation options for its Kenyan reserves, while it continues to divest many of its other African assets and focuses mainly on Ghana. Tullow logged a $1.22bn loss in 2020 compared with a $1.69bn loss in 2019. The producer attributed last year’s loss to $1.24bn in exploration write-offs amid the slump in oil prices. Tullow has already divested assets in Equatorial Guinea and Gabon, as well as its stake in the Lake Albert project in Uganda, in an effort to bolster its balance sheet. The firm says that “options [are] being worked to unlock value in Kenya and Sou
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
