Tullow Oil plc: An Overview

4 pages | 1020 words

This essay discusses Tullow oil plc, a global company engaged in the business of oil and gas exploration, production, and development. The company has operations in various countries across Africa, Europe, South America, and South Asia. Most of the company’s revenue is generated from its operations in Ghana, Uganda, and Ivory Coast. The oil and gas industry is highly capital intensive with large upfront investment required for exploration and production activities. The industry is also subject to volatile commodity prices which can have a significant impact on the financial performance of companies operating in the sector. The Brent crude oil price averaged $71 per barrel in 2018, a 18% decrease from the average price of $87 per barrel in 2017. The decrease in crude oil prices was mainly due to oversupply concerns arising from increased US shale production as well as concerns