UK's Tullow Oil swings back to profit on lower impairments, asset revaluation gains

Workers walk past storage tanks at Tullow Oil's Ngamia 8 drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. Picture taken February 8, 2018. PHOTO|REUTERS

By  REUTERS

REUTERS

What you need to know:

  • Shares in the company rose 3.9% in early trade after the company reported profit after tax of $55 million for the year ended December 31, 2024, compared with a loss of $110 million in 2023 when it cut the value of reserves at one of its West African oilfields.

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