Africa-focused Tullow Oil said the challenge for 2016 was to navigate the weakened market with key offshore priorities intact while cutting investments. Tullow said revenues were down 27 percent for the year. Net debt rose to $4.0 billion for the year, compared with $3.1 billion for the previous year. Losses narrowed, however, from year-end $197 billion from 2014 to $1.09 billion last year. CEO Aidan Heavey said in a statement the narrowed loss in 2015 showed the company was able to weather last year’s market downturn well enough to market good delivery from West African positions . “Our challenge in 2016 is to be equally robust in responding to the uncertainties that remain in the sector,” he said. Crude […]