Tullow Oil – Renewables Still Pose Huge Risk
Tullow Oil plc (LON:TLW)’s half year revenue fell $4m to $727m, as sales volumes fell 14.7% to 65,800 barrels of oil equivalent per day (boepd), offset by a 17.4% rise in the realised oil price to $60.8 a barrel. Q2 2021 hedge fund letters, conferences and more A large reduction in exploration costs written off and impairment charges meant the group reported a pre-tax profit of $213m, up from a $1.4bn loss last year. The group now expects full year production volumes to be at the upper end of the guidance range, at 58,000 – 61,000 boepd. The shares rose 3.0% following the announcement. A Look ...