Tullow flags up African glitches
One of the African oil sector's bellwethers lowers its production forecast
Shareholders convening in London in late April to approve Tullow Oil's return to dividend payments were greeted with mixed news from the company's core African operations, including reduced production in Ghana and further delays to final investment decisions (FIDs) in east Africa. The company abandoned dividend payments after 2014, as it sought to bolster its finances during the oil sector downturn. However, with higher oil prices and more confidence over its prospects, late last year it recommended paying a final dividend of ¢4.8/share for 2018 at a cost of $67m and said it would pay out at least $100mn a year after that. The impact of a production drop in Ghana, while unhelpful to a compan

Also in this section
7 February 2025
The history of tin production and prices offers a preview of the future oil market. If correct, $35/bl could become the new normal for crude for several years without further OPEC+ intervention
7 February 2025
Changing oil demand patterns mean different downstream economics amid switch to naphtha, LPG and other petrochemicals
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors