The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Oil and gas producer Tullow Oil has cut its annual capital expenditure plans by $100 million to $1 billion and may reduce spending further as it adjusts its balance sheet to cope with weak oil prices.
The Africa-focused company also said its lenders had agreed to extend a revolving loan facility by a year and increase flexibility on another, showing banks were willing to support it during the oil market downturn.
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