Irish explorer Providence Resources said yesterday that results from its Barryroe oil discovery "vindicated" its belief there was high-value commercial oil off southern Ireland.
OIL majors BP, Eni, Statoil and Total, plus US independent Cobalt International Energy, have finally secured "pre-salt" acreage offshore Angola, a year after the West African country indicated that they were in the running for production sharing contracts.
ON OCTOBER 13, BP formally sanctioned the £4.5billion Clair Ridge development West of Shetland, positive news that Prime Minister David Cameron sought to capitalise on by travelling to Aberdeen for the occasion.
