Tullow Oil expands Ghana ownership
The Anglo-Irish independent will pre-empt former partner's divestment
Anglo-Irish independent Tullow Oil will exercise its right to pre-empt US superindie Occidental Petroleum’s sale of Ghanaian assets to New York-listed Kosmos Energy and state-owned Ghana National Petroleum Corporation (GNPC). Occidental last month agreed to sell its 11.05pc interest in the Deep Water Tano (DWT) block—which includes stakes in the Jubilee and TEN fields. Ownership of Jubilee before Occidental’s divestment comprised Kosmos (24.08pc), Tullow (35.48pc), Occidental subsidiary Anadarko (24.08pc), GNPC (13.64pc) and South Africa’s Petrosa (2.73pc). TEN was owned by Tullow (47.18pc), Kosmos and Anadarko (17pc each), GNPC (15pc) and Petrosa (3.82pc). Tullow’s $150mn pre-emption will i

Also in this section
7 February 2025
The history of tin production and prices offers a preview of the future oil market. If correct, $35/bl could become the new normal for crude for several years without further OPEC+ intervention
7 February 2025
Changing oil demand patterns mean different downstream economics amid switch to naphtha, LPG and other petrochemicals
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors