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Cash

£250M

USD 332,200,000

-40.2% lowest in 3 filed years

Net assets

-£190M

USD -252,900,000

+7.3% highest in 3 filed years

Employees

346

-13.9% lowest in 3 filed years

Profit before tax

£102M

USD 135,700,000

-21.9% vs 2024

Watch the reel

Our short-form breakdown of TULLOW OIL PLC's latest filing

Tullow Oil sees turnover shrink 45% and swings to a £197m loss. 🛢️

Watchouts

Facts from the Companies House register and the latest accounts — not a rating

Accounts

3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31

Metric Trend 2023-12-312024-12-312025-12-31 Δ vs prior
Turnover £1,227,354,664£966,801,863£636,172,450 -34.2%
Operating profit £222,247,259£337,013,670£150,142,707 -55.4%
Profit before tax £22,457,563£130,464,173£101,922,788 -21.9%
Net profit -£41,309,899
Cash £374,793,451£416,929,548£249,511,792 -40.2%
Total assets less current liabilities £2,412,948,776£1,888,313,054£913,249,211 -51.6%
Net assets -£269,941,415-£204,821,992-£189,950,428 +7.3%
Equity -£269,941,415-£204,821,992-£189,950,428 +7.3%
Average employees 393402346 -13.9%
Wages £53,702,869£54,754,394£48,069,701 -12.2%
Directors' remuneration

Figures converted to GBP from USD at 0.751 per USD (Frankfurter spot rate) — hover any figure for the original. indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show . About these numbers

Ratios

Computed from the line items above — sparklines read oldest → newest

Ratio Trend 2023-12-312024-12-312025-12-31
Operating margin 18.1%34.9%23.6%
Net margin -4.3%
Return on capital employed 9.2%17.8%16.4%
Gearing (liabilities / total assets) 108.1%106.7%107.7%
Current ratio 1.03x0.80x0.52x
Interest cover 0.90x1.30x3.15x

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Name history

Renamed 1 time since incorporation

  1. TULLOW OIL PLC 2000-04-28 → present
  2. DMWSL 291 PLC 2000-02-04 → 2000-04-28

Audit & accounting basis

Accounting basis
IFRS
Reporting scope
Consolidated group
Auditor
Ernst & Young LLP
Audit opinion
Unqualified (clean)
Going concern
Affirmed

“Based on the results of the analysis and the ability to mitigate some of the risks associated with the downside scenarios, the Board has a reasonable expectation that the Group will be able to continue in operation through completion of a refinancing transaction or a M&A transaction and meet its liabilities as they fall due over the five-year period of their assessment.”

Group structure

  1. TULLOW OIL PLC · parent
    1. Tullow Chingueiti Production Pty Limited · Australia
    2. Tullow Petroleum (Mauritania) Pty Limited · Australia
    3. Tullow (EA) Holdings Limited · British Virgin Islands
    4. Clover PlanCo Limited · England and Wales
    5. Tullow Argentina Limited · England and Wales
    6. Tullow Côte d'Ivoire Offshore Limited · England and Wales
    7. Tullow Group Services Limited · England and Wales
    8. Tullow New Ventures Limited · England and Wales
    9. Tullow Oil Finance Limited · England and Wales
    10. Tullow Oil SK Limited · England and Wales
    11. Tullow Oil SPE Limited · England and Wales
    12. Tullow Peru Limited · England and Wales
    13. Tullow Uruguay Limited · England and Wales
    14. Tullow Oil (Mauritania) Limited · Guernsey
    15. Tullow Oil Limited · Ireland
    16. Tullow Gabon Holdings Limited · Isle of Man
    17. Tullow Gabon Limited · Isle of Man
    18. Tullow Mauritania Limited · Isle of Man
    19. Tullow Namibia Limited · Isle of Man
    20. Tullow Uganda Limited · Isle of Man
    21. Tullow Côte d'Ivoire Limited · Jersey
    22. Tullow Ghana Limited · Jersey
    23. Tullow India Operations Limited · Jersey
    24. Tullow International Limited · Jersey
    25. Tullow Overseas Holdings BV · Netherlands
    26. Tullow Zambia BV · Netherlands
    27. T.U. S.A. · Uruguay

Significant events

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

People

9 active · 39 resigned

Name Role Appointed Born Nationality
HOLLAND, Adam Secretary 2018-04-25
GOETHE, Roald Director 2023-02-24 Mar 1960 German
MILLER, Richard David Director 2023-01-01 Jan 1983 British
PERKS, Ian Anthony Director 2025-09-15 Mar 1967 British
PETERKIN, James Robert Director 2026-05-01 Mar 1970 British
SHIRLAW, Euan Campbell Director 2026-05-01 Jun 1985 British
SODEN, Garrett Douglas Director 2026-05-01 Jul 1974 American,Spanish
STEEL, Henry James Edward Director 2026-04-08 May 1989 British
WILES, Rebecca Director 2023-06-28 Feb 1966 British
Show 39 resigned officers
Name Role Appointed Resigned
HICKEY, Thomas Gerard Secretary 2000-05-03 2008-03-04
MARTIN, Alan Graham Secretary 2008-03-04 2016-01-01
MARTIN, Alan Graham Secretary 2000-04-27 2000-05-03
MASSIE, Kevin Michael Secretary 2016-01-01 2018-04-25
MINTO, Bruce Watson Secretary 2000-02-04 2000-04-27
THOMPSON, Dorothy Carrington Secretary 2018-04-25 2018-04-25
AGYARE, Kofi Tutu Director 2010-08-25 2019-04-25
BAMFORD, Samuel Arnold David, Dr Director 2004-07-08 2014-04-30
BRUCE, Roderick Lawrence Director 2000-02-04 2000-04-27
BURRARD-LUCAS, Stephen Charles Director 2012-03-14 2020-04-23
COURTNEY, Rohan Richard Director 2000-05-03 2007-12-31
DALY, Michael Christopher, Professor Director 2014-06-01 2023-05-24
DHIR, Rahul Director 2020-07-01 2025-02-14
DRINKWATER, Anne Director 2012-07-25 2018-04-25
GRANT, Ann Director 2008-05-15 2017-04-26
GREENSLADE, Martin Frederick Director 2019-11-01 2025-11-30
HEAVEY, Aidan Joseph Director 2000-04-27 2018-07-20
HICKEY, Thomas Gerard Director 2000-05-03 2008-09-01
INGRAM, Mitchell Director 2020-09-09 2025-11-30
KHAMA, Sheila Director 2019-04-26 2025-08-01
LANDER, John Hugh Russell Director 2001-03-23 2004-04-16
MALEKI, Eskandar Director 2000-05-03 2004-04-21
MARTIN, Alan Graham Director 2000-04-27 2016-04-28
MCCOSS, Angus Murray, Dr Director 2006-12-06 2019-12-09
MCDADE, Paul Director 2006-03-29 2019-12-09
MCTIERNAN, Steven James Director 2002-03-01 2012-12-31
MINTO, Bruce Watson Director 2000-02-04 2000-04-27
NEL, Willem Adrian Director 2004-09-13 2006-05-31
NHLEKO, Phuthuma Freedom Director 2021-10-25 2025-11-30
O'DONOGHUE, Matthew John Director 2000-05-03 2008-03-31
PLUNKETT, Patrick Joseph Director 2000-05-03 2011-12-31
SANGUDI, Genevieve L Director 2019-04-26 2025-11-30
SPOTTISWOODE, Clare Mary Joan Director 2002-03-01 2011-05-12
SPRINGETT, Ian Director 2008-09-01 2017-06-20
THOMPSON, Dorothy Carrington Director 2018-04-25 2021-12-31
THOMPSON, Simon Robert Director 2011-05-16 2017-04-26
WILLIAMS, David Michael Director 2006-06-01 2012-05-16
WILSON, Jeremy Richard Director 2013-10-21 2022-11-30
WOOD, George Leslie Director 2017-06-20 2022-03-31

Ownership

Persons with significant control

No persons with significant control on record.

Filing timeline

Last 20 of 725 total filings

Date Type Category Description
2026-06-24 AA accounts Accounts with accounts type group
2026-06-05 SH01 capital Capital allotment shares PDF
2026-05-27 AP01 officers Appoint person director company with name date PDF
2026-05-20 MR04 mortgage Mortgage satisfy charge full PDF
2026-05-20 MR04 mortgage Mortgage satisfy charge full PDF
2026-05-11 AP01 officers Appoint person director company with name date PDF
2026-05-11 AP01 officers Appoint person director company with name date PDF
2026-05-05 SH01 capital Capital allotment shares PDF
2026-04-30 MR04 mortgage Mortgage satisfy charge full PDF
2026-04-30 MR05 mortgage Mortgage charge part release with charge number PDF
2026-04-30 MR05 mortgage Mortgage charge part release with charge number PDF
2026-04-30 MR04 mortgage Mortgage satisfy charge full PDF
2026-04-28 MR01 mortgage Mortgage create with deed with charge number charge creation date PDF
2026-04-28 MR01 mortgage Mortgage create with deed with charge number charge creation date PDF
2026-04-28 MR01 mortgage Mortgage create with deed with charge number charge creation date PDF
2026-04-15 MR04 mortgage Mortgage satisfy charge full PDF
2026-04-15 MR04 mortgage Mortgage satisfy charge full PDF
2026-04-15 MR04 mortgage Mortgage satisfy charge full PDF
2026-04-15 MR04 mortgage Mortgage satisfy charge full PDF
2026-04-14 AP01 officers Appoint person director company with name date PDF

Public-record activity

Raw counts from Companies House — last 12–24 months

Filings
20

last 12 months

Capital events
2

last 24 months

Officers appointed
5

last 12 months

Officers resigned
5

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

Official Companies House page