RE: Any upside expected?1 Oct 2024 13:50
Tullow Oil (TLW.L), opens new tab swung into a loss in 2023 after cutting the value of reserves in one of its West African oilfields, as its chief executive said the company would consider shareholder returns after 2025.
The London-listed company said on Wednesday it posted a $110 million loss after tax last year, compared with a profit after tax of $49 million in 2022.
The loss surprised analysts at Jefferies who had forecast a profit of $257 million in 2023.