UK's Tullow Oil posts annual profit on lower impairments, asset revaluation gains

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UK's Tullow Oil posts annual profit on lower impairments, asset revaluation gains

, Reuters - 3:15 AM ET 3/25/2025 default

March 25 (Reuters) - West Africa-focused independent oil and gas explorer Tullow Oil ( TUWLF ) posted an annual profit on Tuesday, largely helped by a reduction in impairments and asset revaluation gains.

The London-listed company's profit after tax for the year ended December 31 came in at $55 million, compared with a loss of $110 million reported a year earlier. (Reporting by Aby Jose Koilparambil, Anandita Mehrotra and Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich)

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