Higher Crude Prices Help Tullow Oil Boost First-Half Profit

Independent producer Tullow Oil reported on Wednesday more than doubled profit after tax for the first half of 2024 amid higher oil and gas production and increased crude oil realizations. Tullow Oil, which is focused on developing projects in and offshore Africa, booked a profit after tax of $196 million for the first half, up from $70 million for the same period of 2023. Revenue fell to $759 million from $777 million. However, Tullow Oil’s realized oil price of $77.70 per barrel after hedging was higher than the $73.30 a barrel realized…