{"id":646598,"date":"2019-06-28T12:31:45","date_gmt":"2019-06-28T12:31:45","guid":{"rendered":"
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Business News of Friday, 28 June 2019<\/p>\n

Source: <\/strong>citibusinessnews.com<\/p>\n2019-06-28\n\n

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<\/p>\n

\n

Business News of Friday, 28 June 2019<\/p>\n

Source: <\/strong>citibusinessnews.com<\/p>\n

2019-06-28<\/p>\n

\n

\"TullowTullow is hopeful that the figure will inch up when production levels increase<\/span><\/span><\/p>\n<\/div>\n

Tullow Oil has announced five hundred million dollars in profits for the first half of this year [2019].<\/p>\n

The company\u2019s revenue also recorded 900 million dollars.<\/p>\n

Tullow is however hopeful that the figure will inch up when production levels increase to expected levels.<\/p>\n

Tullow, in its trading statement, said the increase in production in West Africa from 95,000 to 100,000 barrels of oil per day, should push the returns to the company for the remaining six months of the year.<\/p>\n

This is expected to be triggered by further wells which are expected to come on stream in Ghana.<\/p>\n

For the first six months of this year, Tullow\u2019s Administrative expenditure reached fifty million dollars while the cash flow which measures how well the company generates cash to pay its debt obligations and fund its operating expenses, also recorded 100 million dollars.<\/p>\n

In a remark, the CEO of Tullow Paul McDade described the company\u2019s performance as steady progress overall across the business in the first half of the year.<\/p>\n

He added that the management expects another year of solid free cash flow generation.<\/p>\n

\u201cTullow has made steady progress overall across the business in the first half of the year. Our balance sheet remains strong and we expect another year of solid free cash flow generation.\u201d<\/p>\n

Meanwhile, Tullow\u2019s average floor price to protect it from global oil price fluctuations is pegged at 56.72 dollars per barrel.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Business News of Friday, 28 June 2019 Source: citibusinessnews.com 2019-06-28 Tullow is hopeful that the figure will inch up when production levels increase Tullow Oil has announced five hundred million dollars in profits for the first half of this year [2019]. The company\u2019s revenue also recorded 900 million dollars. Tullow is however hopeful that the […]<\/p>\n","protected":false},"author":1,"featured_media":646599,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2186,227,2185,2187,2184],"class_list":["post-646598","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news","tag-500m","tag-oil","tag-posts","tag-profits","tag-tullow"],"yoast_head":"\nTullow Oil posts $500m in profits for 2019 first half - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/06\/28\/tullow-oil-posts-500m-in-profits-for-2019-first-half\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Tullow Oil posts $500m in profits for 2019 first half - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Friday, 28 June 2019 Source: citibusinessnews.com 2019-06-28 Tullow is hopeful that the figure will inch up when production levels increase Tullow Oil has announced five hundred million dollars in profits for the first half of this year [2019]. 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