Tullow Oil has announced the planned departure of its CEO, Rahul Dhir, who will step down and resign from the Board in 2025 to pursue other interests. The company’s Board has initiated the search for a successor, with Dhir committed to remaining in his role until a smooth transition is ensured. During his tenure since mid-2020, Dhir has been credited with leading a strategic turnaround that positioned the company for sustainable growth and profitability.
Under Dhir’s leadership, Tullow Oil generated $1.1 billion in free cash flow and successfully reduced its net debt from $2.8 billion to $1.4 billion. His efforts improved operational performance, cost efficiency, and financial discipline, earning praise from Tullow’s Non-Executive Chairman, Phuthuma Nhleko. Meanwhile, Tullow Kenya BV Managing Director Madhan Srinivasan reaffirmed the company’s commitment to advancing its Kenyan oil interests, including working with the government to secure approval for the Full Field Development Plan and engaging with potential strategic partners.
Dhir expressed gratitude for his time at Tullow, highlighting the company’s strong team culture and its solid foundation for future growth as a trusted pan-African energy operator. He emphasized his pride in the progress made during his leadership, which included strategic resets and enhanced capital discipline. Appointed CEO in 2020, Dhir succeeded Dorothy Thompson, who returned to her role as Non-Executive Chair. The search for his replacement marks a new chapter in Tullow’s pursuit of operational and financial excellence.
