Tullow hopes to FID on a production project in the South Lokichar basin near Lake Turkana in northern Kenya in 2019
Tullow’s revival still faces production challenges
Tullow Oil is to pay a dividend once more. But can it find the barrels to sustain its improving balance sheet?
Tullow Oil has maintained stronger cash flow, reduced its debt and now reinstated its dividend. But the bellwether African explorer faces challenges in securing fresh production from East Africa as it seeks to realise production growth ambitions. On 29 November, the company said it would pay dividends in 2019 for the first time since 2014. Tullow said it expected the ordinary dividend in any year would total no less than $100mn and that, in periods of "particularly strong free cash flow generation", the board would also consider making additional returns to shareholders. The move underscores an improved financial situation at Tullow, whose business was hit hard by falling revenues and limit
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
