Tullow FY revenue $847M, est. $930.2M

Tullow FY revenue $847M, est. $930.2M

Tullow Oil Reports FY25 Revenue Below Estimates Amid Operational Challenges

Tullow Oil Plc (LON:TULL) reported full-year 2025 revenue of $847 million, falling short of the estimated $930.2 million forecast by analysts[1]. The discrepancy reflects ongoing operational and market challenges faced by the African-focused oil and gas explorer.

The company attributed the revenue shortfall to lower-than-expected production volumes in key regions, including its operations in Kenya and Uganda, partially offset by cost management initiatives. Tullow maintained that it achieved "significant cost efficiencies" during the fiscal year, with operational expenses aligning with previously disclosed guidance[1]. Despite these efforts, the revenue gap highlights the impact of volatile commodity prices and project execution delays.

Tullow's FY25 production averaged 82,000 barrels of oil equivalent per day (boe/d), within its guidance range of 80,000–85,000 boe/d[1]. The company emphasized progress in advancing its Uganda oil development, including infrastructure partnerships, while noting that first oil remains targeted for 2028. Additionally, production from Ghana's Tweneboa fields contributed to stability in cash flow[1].

In a statement, Tullow's CEO acknowledged the revenue variance but reiterated confidence in long-term growth prospects. "While FY25 results reflect the challenges of operating in a dynamic sector, our focus on efficiency, exploration, and strategic partnerships positions us to deliver value in the coming years," the CEO said[1].

The results underscore the broader risks facing exploration-focused energy firms amid fluctuating market conditions. Investors are now turning attention to Tullow's capital allocation strategy and its ability to meet production targets in 2026.

[1]: Tullow Oil Plc, Full-Year Results Press Release, February 20, 2026.