Tullow Oil swings to profit in first half

Tullow Oil swung to a profit for the first half and raised the lower end of its 2021 production target on Wednesday to reflect increased output from its Simba field in Central Africa.

The oil and gas company, focused in Africa and South America, said profit after tax came in at $93 million for the six months ended June, from a loss of $1.33 billion last year due to impairment charges.