Tullow cuts forecasts amid Ghana production woes


In depth
Issue 406 - 19 Dec 2019 - By Thalia Griffiths | 6 minute read

The confusion in Ghana’s energy sector has claimed another victim, with Tullow Oil slashing its production forecast, citing lower-than-expected gas offtake. Tullow had already cut its 2019 production forecast in July and again in November, but announced on 9 December that output would be just 70,000-80,000 b/d in 2020 and around 70,000 in 2021-23, down from 87,000 b/d this year. Chief executive Paul McDade and exploration director Angus McCoss resigned “by mutual agreement and with immediate effect”.

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