December 16, 2017

Oil and gas production in UK waters ‘on the rise’ – BBC News

Oil and gas production in UK waters is set to rise for the first time in 15 years this year. Industry body Oil and Gas UK said provisional figures showed production for the first six months of the year could be up 2.5% on the same period last year. The Golden Eagle field, which started producing in November, is thought to have played a part. Increased efficiency from existing assets is also being highlighted. Deirdre Michie, chief executive of Oil and Gas UK, said: “It’s still early days, but initial indications suggest that production could increase this year for the…

Oil and gas output boosts UK industrial production – BBC News

A rise in oil and gas output boosted UK industrial production in May, official figures show, but manufacturing output continued to fall. Industrial production rose 0.4% in May, helped by a 7.3% rise in oil and gas output and higher mining output. However, manufacturing continued to lag behind, falling by 0.6% last month after a fall of 0.4% in April. Manufacturers have struggled against the strength of the pound and weak demand in European markets. The numbers suggested “a persistent weakness” developing in manufacturing, said UBS economist David Tinsley. “The last few months’ readings of manufacturing output have been soft, and…

UK Oil and Gas’ share price rises as Gatwick gusher company reveals wide-ranging plans for next six months | City A.M.

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  UK Oil & Gas (Ukog), the company behind the Gatwick Gusher, has widened its losses – but the company is confident about opportunities over the coming months. The figures: Ukog made a loss of £383,000 for the six months to 31 March, up from a £290,000 loss over the same period in 2014. However the oil discovery group posted revenues of £200,000 after having sold 3,434 barrels of oil from its share of production from the Homdean and Avington oil fields in the Weald Basin. It has cash and receivables of £8m, having raised £6m through a share placement…

David Cameron clashes with Argentina over Falklands threats against oil firms | UK news | The Guardian

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David Cameron has told Argentina in a “clear and robust” way to stop threatening oil and gas companies exercising their legal rights to explore the Falkland Islandsand the surrounding waters. In remarks which prompted the Argentinian president Cristina Fernández de Kirchner to accuse him of having acted in an “almost ill-mannered” way, the prime minister told Buenos Aires that it was “unacceptable” to threaten companies hoping to invest in the Falklands. Cameron made his remarks to Héctor Timerman, the Argentinian foreign minister, at a two-day summit of 61 EU, Latin American and Caribbean leaders in Brussels. In a round-table discussion before…