Tullow Oil profits soar on higher oil, gas prices

by | Mar 8, 2023

Tullow Oil annual profits almost doubled as the company cashed in on higher oil and gas prices sparked by the war in Ukraine.
Gross profit for 2022 almost doubled to $1.08bn, on a 40% rise in revenue to £1.78bn with group production in line with guidance.

Free cash flow rose to $267m from $245m and net debt fell to $1.9bn from $2.1bn.

Reporting by Frank Prenesti for Sharecast.com

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