Threat of Tullow collapse looms
The failure of multiple projects in Africa and depressed oil prices puts the company in ‘significant doubt’
Last year was harrowing for Irish independent Tullow Oil. Production downgrades, disappointing exploration results offshore Guyana and delays to key African projects triggered a share price collapse of more than 70pc. The company’s full-year results show market concerns were fully justified. Tullow posted a $1.7bn after-tax loss in 2019, partly from reduced output at the Jubilee and TEN fields in Ghana. These problems were compounded by failure to make progress on crucial projects in Kenya and Uganda. Assets in both countries contributed towards a write-off charge of $1.25bn. Tullow looks unlikely to recover in 2020. The collapse of the Opec+ alliance and the growing threat of Covid-19 mea
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
