Tullow Oil

Oil & Gas

Tullow fails corporate governance 101


The $1.7 billion hit to Tullow Oil Plc’s market value on Monday — a 65% drop — provides a stark reminder of why bosses shouldn’t stay too long at the top. The hydrocarbon producer has been stubbornly overoptimistic about its prospects. Reality has now dawned, and it turns out the London-based group is in an extremely tight position.