Yet more trouble at Tullow Oil

Tullow Oil shares have plunged to a 16-year low after the company slashed its annual production forecast.

Photo taken on September 17, 2011 shows

(Image credit: 2011 AFP)

Tullow Oil shares have plunged to a 16-year low after the company slashed its annual production forecast from 87,000 barrels of oil a day currently to 70,000, say Julia Kollewe and Jillian Ambrose in The Guardian. Tullow has also scrapped its dividend and announced that its CEO and exploration director have left.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri