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News Archive for: March 2013

UK ‘seeks billions of investment’ for Oil and Gas sector:

The UK government on Thursday unveiled its latest strategy aimed at securing billions of pounds of investment in the oil industry.

A trio of ministers was on hand to unveil plans in the Scottish oil capital of Aberdeen with a focus on job creation, innovation and increased competitiveness, particularly in…

Oil companies to invest more than £330m in drilling programme which could lead to further development of a giant North Sea field:

A consortium of oil companies is to invest more than $500m (£330m) in an appraisal drilling programme which could lead to further development of a giant North Sea field.

The BP-led consortium said drilling had already started on the first of five wells planned over the next two years at…

Enquest post a rise in profits for 2012:

London-listed Enquest posted a rise in profits for 2012 as lower expenses helped offset a fall in revenue.

The company posted an after tax profit of $259.7 million, up 90.8% compared to the $136.1 million profit booked in 2011.

EnQuest mainly attributed the rise in profits to a reduction in income…

Ithaca sees profits rise:

London-listed Ithaca Energy saw profits rise in 2012, benefiting from a deferred tax credit while increased output also helped lift revenues.

Profit after tax totalled $93.4 million for 2012, up from a profit of $35.9 million a year earlier, however last year’s result included a deferred tax credit of $64.2…

Premier On Track for 75,000 Barrels Per Day:

UK oil and gas independent Premier Oil confirmed Thursday production guidance of between 65,000 and 70,000 barrels of oil equivalent per day (boepd) for 2013.

Reporting its final results for 2012, Premier said that it should achieve an exit rate for 2013 of 75,000 boepd once its Huntington and Rochelle…

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