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
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand