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
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
