Jun 11, 2014
Citi warns Tullow Oil's debt build-up could delay production
Citi warns Tullow Oil’s debt build-up could delay production
Source: Business Daily
London Stock Exchange-listed Tullow which has discovered oil in Turkana County should sell part of its stake to raise money for production, analysts at Citigroup Global Markets say in their latest report.
The analysts caution that delays in injecting cash would hold back production in Kenya, Uganda and Ghana.
“A failure to farm-out its current high equity stakes in its…
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