Tullow Oil hits the reset button

As Aidan Heavey steps down, the oil exploration company he built three decades ago finds itself at a crossroads

One of Tullow Oil’s rigs and Aidan Heavey, the company’s founder

We cannot always choose the manner of our departure. Last week, Aidan Heavey announced he was resigning as chief executive of the Irish oil exploration company Tullow Oil, which he founded 31 years ago.

It’s been a busy few weeks for Tullow. Along with Heavey’s announcement that he was stepping down (or, more accurately, stepping up to the role of chairman), it sold two-thirds of its interest in a major project in Uganda ...