Tullow Oil has written off $800 million of its exploration costs in
Kenya and Uganda after lowering its forecast for long-term crude oil
prices.
Tullow Oil equipment in Cheptuket, Elgeyo-Marakwet. Tullow Oil has
written off $800 million of its exploration costs in Kenya and Uganda
after lowering its forecast for long-term crude oil prices. PHOTO | FILE
| NATION MEDIA GROUP
In Summary
The multinational has spent more than $1 billion
in exploration and oilfield development in Kenya alone and it was not
immediately clear how much of this it has written off.
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