Tullow forecasts €115m fall in revenue

TULLOW Oil has reiterated that its first-half revenues this year will be down by nearly £100 million (€115.6m) at around £290m (€335m), due to falling sales volumes and a fall in commodity prices.

In a pre-close trading update — ahead of the publication of first-half figures at the end of August — the Dublin and London-based exploration company also said that total production levels for the year are likely to be broadly flat at around 58,000 barrels of oil equivalent per day.