Clouds over major Kenyan oil exploration project

Tullow's latest job cuts announcement in Kenya has deepened doubts on the viability of the country's oil exploration. The multinational oil and gas exploration company which has been the principal operator of Project Oil Kenya, with Total Oil and Africa Oil as its joint partners, has been facing financial constraints. The East African reports that the group's workforce could be cut by approximately a third globally, with possible office closures in Dublin and Cape Town in order to reduce costs and overheads. The job cuts plan is likely to pour cold water on the Kenyan project, which has been hyped by Nairobi. Tullow has nearly halved its capital spending in Kenya to $40.6m, down from the $70m it spent in 2019.