Tullow Oil shares slumps as Gabon army officers declare coup

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Tullow Oil shares slumps as Gabon army officers declare coup
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Company says operations are ‘unaffected by the ongoing political activity '

Tullow’s working interest in production from the mainly offshore portfolio averaged 14,000 barrels of oil equivalent per day last year. Gabon accounted for £477 million of Tullow’s £2.01 billion revenue in 2022 from crude oil sales, according to its latest annual report.

Military officers in oil-producing Gabon said on Wednesday they had seized power and had put president Ali Bongo under house arrest, stepping in minutes after the African state’s election body announced he had won a third term.

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