Petroleum Ministry to talk Tullow out of plans to lay off workers

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Petroleum Minister Emmanuel Armah Kofi Buah says government will not approve any move by Tullow Oil to lay off some of its workers.

Joy Business gathers that the oil exploration firm's intention to lay off some of its staff is due to decline in crude oil prices.

Some analysts say the decision has also been fuelled by a $2 billion loss recorded by Tullow last year.

Tullow is looking to cut down its work force across the world.

But Petroleum Minister Emmanuel Armah Kofi Buah told Joy Business government is prepared to engage the exploration company to reconsider its decision.

General Manager of Tullow oil however says although lay offs are not off the table, no firm decisions have been taken.

He said Tullow is first considering restructuring its operations.

Oil services providers Halliburton, Schlumberger and Baker Hughes, have all indicated plans to cut their work staff because of declining crude prices.

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