Oil advanced as shrinking U.S. crude inventories added to expectations of a tighter global supply outlook after Saudi Arabia surprised markets by pledging to slice production the next two months.
SERICA Energy said yesterday that, after focusing on achieving first gas and oil from its Kambuna field in Indonesia, the excitement in the next 12 months would come from its plans to drill the Conan and Oates prospects in the UK and up to five wells in south-east Asia.
Aberdeen may have just about sidled past the worst effects of recession thanks to North Sea oil&gas; nonetheless, there is a creeping paralysis gradually strangling the entrepreneurial drive that has come to characterise Europe's Energy Capital of late.
