Tullow cuts FY capital budget, West African production forecast

(Reuters) - Africa-focused Tullow Oil Plc slashed full-year spending budget and lowered the forecast for its oil production in West Africa, as it seeks to weather an oil price slump, while a delay in ramping up output at its multi-billion dollar TEN oil fields offshore Ghana also weighed on outlook. Two years of weak oil prices has pressured the balance sheet of the company, which also faced a technical issue at its prized Jubilee field in Ghana that forced a recent month-long shutdown, besides