Tullow Oil

Totally committed to reducing debt

  • Sectors : Resource
  • Companies : Tullow Oil

Ratings and price correct at time of issue.

  • Tullow Oil

    Closing Price: 20.5p

  • RATING 15/01/20

  • PREVIOUS RATING 09/12/19



The news that the Ugandan government had signed off on tax arrangements, licence transfer and change of operatorship effectively brings to a successful conclusion the sale of Tullow’s Ugandan assets to Total. This is an important first step in the process of achieving $1bn asset sales to reduce financial leverage in the group. All things equal, it points to a close of year net debt position of c.$2.4bn.

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Oct 22 2020, 08:05 IST/BST