Guyana oil discovery does little to bolster Tullow
An unwanted hat-trick of underwhelming oil finds fail to alleviate the whiff of crisis around troubled independent
Hopes of salvaging Anglo-Irish independent Tullow Oil’s turbulent 2019 and preventing further downward share price pressure in 2020 were heavily dependent on the company’s third and final Guyana offshore drill target of last year—the first well to test both the Kanuku block and the Cretaceous play. Numerous light oil discoveries already made by ExxonMobil within the Cretaceous of neighbouring block Stabroek only added to the expectancy. But while Spain’s Repsol, the operator with a 37.5pc stake, alongside partners Tullow (37.5pc) and Total (25pc), announced an oil discovery at the Carapa-1 well—the third from three wells now drilled in Guyana by Tullow—the preliminary results raised doubts a
Also in this section
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
11 March 2026
De la Rey Venter, CEO of LNG player MidOcean Energy, discusses strategy, project developments and the prospects for the LNG market
