Shares in Tullow Oil fell up to 3% yesterday after the Irish-founded exploration company announced its founder and chief executive Aidan Heavey is to step down and that its 2016 revenues are likely to have fallen by almost 19%.

TULLOW Oil has encountered further drilling success in its assets off the coast of Ghana.

A FURTHER oil find in the area has convinced Tullow Oil that its Owo discovery, off the coast of Ghana, has the potential to be another major oil field for the company.