Strong Tullow ‘considering capital expenditures’

IRISH oil and gas exploration company Tullow Oil has said operational performance in the year to date has been strong, continuing last year’s trend.

Last year, the Dublin and London-based company saw pre-tax profits surge by 162% to a record level of €322.4 million.

Chief executive Aidan Heavey told shareholders at the company’s annual general meeting in London the group is “making excellent progress on all fronts”, and “is considering additional capital expenditure opportunities”.