Tullow Oil Finally Profitable After Brutal 2020

Tullow Oil today swung back into profit for the first half of the year and upped its production targets as it looked to get back on a surer footing after several challenging years. The firm booked a profit of $93m for the first six months, having posted a whopping $1.3bn loss in the same period last year due to impairment charges. Revenue year-on-year was flat at $737m. For the full year, the FTSE 250 oil explorer said that production would come in at 58,000-61,000 barrels per day after an increase in output at one of its fields in Gabon. Last…