TULLOW OIL PLC
Listed on the London Stock Exchange, the company is a multinational oil and gas exploration and production business with core operating assets in Ghana.
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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
-
5 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | 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 | 393 | 402 | 346 | -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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| 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 | 1.03x | 0.80x | 0.52x | |
| Interest cover | 0.90x | 1.30x | 3.15x |
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
- TULLOW OIL PLC 2000-04-28 → present
- 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
- TULLOW OIL PLC · parent
- Tullow Chingueiti Production Pty Limited
- Tullow Petroleum (Mauritania) Pty Limited
- Tullow (EA) Holdings Limited
- Clover PlanCo Limited
- Tullow Argentina Limited
- Tullow Côte d'Ivoire Offshore Limited
- Tullow Group Services Limited
- Tullow New Ventures Limited
- Tullow Oil Finance Limited
- Tullow Oil SK Limited
- Tullow Oil SPE Limited
- Tullow Peru Limited
- Tullow Uruguay Limited
- Tullow Oil (Mauritania) Limited
- Tullow Oil Limited
- Tullow Gabon Holdings Limited
- Tullow Gabon Limited
- Tullow Mauritania Limited
- Tullow Namibia Limited
- Tullow Uganda Limited
- Tullow Côte d'Ivoire Limited
- Tullow Ghana Limited
- Tullow India Operations Limited
- Tullow International Limited
- Tullow Overseas Holdings BV
- Tullow Zambia BV
- T.U. S.A.
Significant events
- “On 27 April 2026, Tullow announced that holders representing over 97% of the outstanding principal amount of its existing notes had approved contents to improve amendments to the indenture and intercreditor agreement, the release and exchange of the existing notes for new notes, and related waivers to permit the release of collateral, in each case in connection with the proposed refinancing transaction.”
- “On 9 March 2026, Tullow received $36 million proceeds of the Tranche B payment under the terms of the SPA recorded in the 2024 half-year results.”
- “On 21 July 2025 for the sale of its entire working interest in Kenya. The final 10% of Tranche B proceeds ($4 million) was received on 1 April 2026 following completion of transition support services.”
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
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 | |
| 2026-05-27 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-20 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-05-20 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-05-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-05 | SH01 | capital | Capital allotment shares | |
| 2026-04-30 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-30 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-04-30 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-04-30 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-15 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-15 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-15 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-15 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-14 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 2
- Officers appointed
- 5
- Officers resigned
- 5
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.