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
£247m
USD 332,200,000
-44.2% lowest in 3 filed years
Net assets
-£188m
USD -252,900,000
+13.5% highest in 3 filed years
Employees
346
-13.9% lowest in 3 filed years
Profit before tax
-£96m
USD -129,200,000
-119% lowest in 3 filed years
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
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
Negative shareholders' funds
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 | £1,282,451,734 | £1,024,514,486 | £628,571,429 | -38.6% | |
| Operating profit | £232,224,141 | £357,131,487 | £148,348,794 | -58.5% | |
| Profit before tax | £23,465,704 | -£43,775,868 | -£95,881,262 | -119% | |
| Net profit | — | — | — | — | |
| Cash | £391,618,270 | £441,817,892 | £246,530,612 | -44.2% | |
| Total assets less current liabilities | £2,521,268,247 | £2,001,034,702 | £902,337,662 | -54.9% | |
| Net assets | -£282,059,331 | -£217,048,711 | -£187,680,891 | +13.5% | |
| Equity | -£282,059,331 | -£217,048,711 | -£187,680,891 | +13.5% | |
| Average employees | 393 | 402 | 346 | -13.9% | |
| Wages | £56,113,640 | £58,022,923 | £47,495,362 | -18.1% | |
| Directors' remuneration | — | £1,767,039 | £1,730,735 | -2.1% | |
| Directors' pension contributions | — | £123,408 | £186,211 | +50.9% | |
| Highest paid director | — | £306,431 | £360,208 | +17.5% |
Figures converted to GBP from USD at 0.742 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% | |
| 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 | 0.61x |
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
“We have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and Parent Company’s ability to continue as a going concern for a period of 12 months from the date when the financial statements are authorised for issue to 30 April 2027.”
Group structure
- TULLOW OIL PLC · parent
- Tullow Chingueitti Production Pty Limited 100%
- Tullow Petroleum (Mauritania) Pty Limited 100%
- Tullow (EA) Holdings Limited 100%
- Clover PlanCo Limited 100%
- Tullow Argentina Limited 100%
- Tullow Côte D'Ivoire Offshore Limited 100%
- Tullow Group Services Limited 100%
- Tullow New Ventures Limited 100%
- Tullow Oil Finance Limited 100%
- Tullow Oil SK Limited 100%
- Tullow Oil SPE Limited 100%
- Tullow Peru Limited 100%
- Tullow Uruguay Limited 100%
- Tullow Oil (Mauritania) Limited 100%
- Tullow Oil Limited 100%
- Tullow Gabon Holdings Limited 100%
- Tullow Gabon Limited 100%
- Tullow Mauritania Limited 100%
- Tullow Namibia Limited 100%
- Tullow Uganda Limited 100%
- Tullow Côte D'Ivoire Limited 100%
- Tullow Ghana Limited 100%
- Tullow India Operations Limited 100%
- Tullow International Limited 100%
Significant events
- “On 27 April 2026, Tullow announced that holders of over 97% of the outstanding principal amount of its existing notes had approved contents to approve 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.”
- “In 5 March 2026, Tullow received $3.6 million proceeds of the Tranche B payment under the terms of the SPA announced 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
- 4
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.