Tullow Oil reports a $1.3bn loss amid potential cash crunch
The energy group was forced to write down $1.4bn due to collapsing demand for oil and is looking at alternative refinancing options
09 September 2020 - 18:34
London — Tullow Oil is exploring ways to fend off a potential cash crunch as the London-listed group reported a $1.3bn loss after it was forced to write down $1.4bn due to collapsing demand for oil.
Tullow, with a market cap of $361m as of Tuesday and $3bn in debt, said it is looking at “various refinancing alternatives” and plans to hold a capital markets day later this year...
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