Related Articles
Forward article link
Share PDF with colleagues

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 f

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Kuwait and Oman hope for peace dividend
26 January 2021
More cordial Saudi-Qatar relations raise hopes for economic and energy investment progress in other GCC allies. But serious challenges remain
Pavilion prepares for carbon neutrality as normal
26 January 2021
The Singaporean firm is laying the foundations for when carbon-neutral LNG will be a requirement
Caracas turns to capitalism for survival
26 January 2021
Venezuelan government makes moves to liberalise oil sector as economic sanctions push production to 50-year low
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video