Tullow Oil profits rise amid higher crude prices

Rahul Dhir, Tullow Oil chief executive, said the “strong” financial performance was also fuelled by lower expenditure and its Ghana drilling programme completed ahead of schedule.

Irish-founded oil exploration firm Tullow Oil’s half year profits increased on higher crude prices.

The company, which focuses its operations in West Africa, posted gross profit of $460m (€421m) for the first six months, compared to $351m a year earlier and its profit after tax rose from $70m last year to $196m so far in 2024.