No quick fix for Tullow
The embattled producer warns of another year of sluggish production and project hold-ups
Anglo-Irish independent Tullow Oil has downplayed hopes that the new year could signal swift rejuvenation—after its 2019 annus horribilis where a series of production downgrades, potentially uncommercial discoveries offshore Guyana and continuing delays to key African projects drove the firm’s share price down by over 80pc, the largest nose-dive in the company’s history. Full-year 2020 output is projected at around 75,000bl/d oe, a drop of almost 10,000bl/d oe from current full-year 2019 figures, according to the firm’s latest operational update. And production forecasts had already fallen behind previous projections. Back in 2018, the firm promised net output of around 100,000bl/d oe net fo
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
