Tullow Oil CEO steps down, co scraps dividends

Tullow Oil CEO steps down, co scraps dividends
  • Clock-gray 14:21
  • calendar-gray 09 December 2019

Tullow Oil Plc on Monday said its Chief Executive Officer Paul McDade has resigned and the oil and gas explorer also scrapped its dividends, as it continues to face issues at its fields in Ghana, APA reports citing Reuters.

The company also slashed its 2020 annual production forecast. It expects to produce between 70,000 and 80,000 barrels of oil per day (bopd) next year, lower than its guidance of about 87,000 bopd for this year, Tullow said.

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