Tullow Oil lowers executive pay by 13%

Executive pay levels at Tullow Oil declined by more than 13% last year, the Irish-founded exploration company's latest annual report shows.

Last month, Tullow reported an 8% increase in annual revenue to just under $1.9bn (€1.7bn) and posted an after-tax profit of $85m for 2018, representing its first net profit in five years and a strong turnaround from an after-tax loss of $175m in the previous year.