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News Archive for: April 2014

First hydrocarbons flow from Dana’s Western Isles Development:

Dana Petroleum has reached a major milestone confirming first hydrocarbons have flowed from its flagship project.

The first production well for the Western Isles Development has been successfully completed and flow tested, the firm confirmed today.

Hugh McClure, director of capital development projects, said: “The first flow on Western Isles is…

BP reports first quarter results; increases dividend:

BP today announced its financial results for the first quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8.2 billion.

The company…

Premier Oil rejects merger with Ophir:

Premier Oil is expected to make an announcement to the stock market this morning after rejecting a merger bid which would have made it one of the biggest firms in the UK.

The independent – whose assets include the Balmoral area fields as well as interests in the Huntington, Scott…

Oil and gas supply chain contributes £35 billion to UK economy:

The contribution of the upstream oil and gas supply chain to the UK economy has been calculated at £35 billion in 2012.

In a report EY said the sector’s turnover grew by £11.4 billion between 2008 and 2012, with an increase of 290 companies.

The report said there were 1,585 UK…

Fracking could generate £33bn and 64,000 jobs for UK:

Fracking could generate a £33bn investment windfall in Britain thanks to the creation of a new industrial supply chain, a report has claimed.Drilling of an estimated 4,000 horizontal shale gas wells over an 18-year period would generate 64,000 new jobs and spur massive investment to serve the industry, according…

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