Tullow to resume Gabon expansion
The debt-burdened firm’s fortunes appear to be turning
Anglo-Irish independent Tullow Oil’s efforts to bolster its balance sheet appear to be succeeding, as the firm is poised to resume previously deferred expansion works in Gabon. Tullow’s sale of its Gabonese Dussafu Marin permit and its assets in Equatorial Guinea allowed cash to be “re-allocated to accelerate the Simba expansion development in Gabon”, the company says. Work is due to start this quarter and is expected to boost 2021-2022 production. Tullow describes the project as “low-risk, high return”. CEO Rahul Dhir also cites “improved market conditions” as contributing to “operational and financial progress” and says the firm will continue to reduce its debt. $30/bl – Previously s

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