Tullow Oil raises hedging to 75% of output for two years

PUBLISHED: Wed, 16 Jun 2021 06:00:41 GMT

June 16 (Reuters) – Africa-focused Tullow Oil said on Wednesday it was increasing the volume of oil it protects with hedging to 75% of the company’s output for the next two years, with plans for a further 50% increase for a year beyond that.

The oil producer had previously hedged around 60% of its output one year into the future and 30% in the second year. (Reporting by Shadia Nasrella in London; Additional reporting by Muvija M in Bengaluru)

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