When you realise you won't recover your costs... You ask PR to craft a statement....
1/
"Tullow Oil has written off $800 million (Sh81 billion) of its exploration costs in Kenya and Uganda after lowering its forecast for long-term crude oil prices."
businessdailyafrica.com/corporate/comp…
1/
"Tullow Oil has written off $800 million (Sh81 billion) of its exploration costs in Kenya and Uganda after lowering its forecast for long-term crude oil prices."
businessdailyafrica.com/corporate/comp…
2/
“Exploration costs written off are predominately driven by a write-down of the value of the Kenya and Uganda assets due to a reduction in the group’s long-term accounting oil price assumption from $75 per barrel to $65 per barrel,” Tullow said in a trading update.
“Exploration costs written off are predominately driven by a write-down of the value of the Kenya and Uganda assets due to a reduction in the group’s long-term accounting oil price assumption from $75 per barrel to $65 per barrel,” Tullow said in a trading update.
3/
And the roads are now "too bad"
Tullow says transport of crude oil from Turkana to Mombasa will remain suspended until further notice.
The firm had halted trucking of crude late last year after sections of the road were badly damaged by heavy rains.
nation.co.ke/business/Tullo…
And the roads are now "too bad"
Tullow says transport of crude oil from Turkana to Mombasa will remain suspended until further notice.
The firm had halted trucking of crude late last year after sections of the road were badly damaged by heavy rains.
nation.co.ke/business/Tullo…
