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Investegate |Oilex Ltd Announcements | Oilex Ltd: Annual Report 2021 investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
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Credit: Allseas Offshore services firm Allseas said Wednesday it had removed the former DP3 gas production topsides from Spirit Energy’s Morecambe Bay development in the East Irish Sea, using the giant Pioneering Spirit vessel. This follows the removal of the adjacent DP4 topsides and subsequent transport to the UK in April. The two normally unmanned installations used to produce gas as part of Spirit Energy’s complex of eight installations in Morecambe Bay. As the field has matured, the reserves the platforms previously tapped into have been produced by the larger, manned Central Morecambe platform nearby. "The vessel’s motion-compensated lift technology proved hugely effective in the shallow waters of Morecambe Bay, renowned for strong currents and challenging tidal conditions. For both the DP3 and DP4 operations, it was a matter of hours between arrival in the field and safe execution of the topsides’ lifts," Allseas said.
28 May 2021 | 08:11am StockMarketWire.com - Oilex has completed the sale of its 40% participating interest in the Bhandut Production Sharing Contract to Indian firm Kiri and Company Logistics Private. Oilex has received US$290,000 from the buyer and an additional payment of US$28,000 is expected for final cash calls related to Oilex's interest in the Bhandut PSC. On 28 January 2020, Oilex announced that it had accepted an offer from Kiri, which has also expressed an interest in engaging the services of Oilex's office on a contract basis to review field production, stabilize operations, and initiate field re-development of the Bhandut PSC in accordance with the Field Development Plan. This process is currently underway.
Oilex completes Bhandut sale Summary Sydney-listed Oilex had accepted an offer from Kiri and Company Logistics to acquire its interest in Bhandut field in India in January last year. by: Shardul Sharma Posted in: Oilex completes Bhandut sale Sydney-listed Oilex has completed the sale of its participating interest in the Bhandut field in India following the receipt of $290,000 from the buyer. An additional payment of $28,000 is expected for final cash calls related to its interest in the field. Oilex had accepted an offer from India’s Kiri and Company Logistics to acquire its interest in Bhandut in January last year. Oilex held a 40% interest in the Bhandut in the western India state of Gujarat, with Gujarat government-owned GSPC holding the remaining. The sale was approved by the Indian government in April this year.
Pubs and restaurants under pressure over concerns of prolonged restrictions A look at Friday's major share movers on the London Stock Exchange Hospitality stocks were under pressure in the early afternoon as UK reopening plans could be hampered by the rise in the Indian Covid variant. The 20.5% rise in cases over a week raises the possibility that the 21 June lockdown end will be delayed, analysts at IG noted. 12.55pm: Insurers rise after UK finance regulator unveils new rules Insurers were on the rise in the early afternoon after the Financial Conduct Authority said they will no longer be able to charge existing customers more than new ones.
Senior soars after rejecting takeover proposal A look at Friday's major share movers on the London Stock Exchange Senior PLC (LON:SNR) soared 36% to 161.3p after Lone Star Global Acquisitions confirmed that it made a third proposal to Senior regarding a possible cash offer for 176p per share. However, the board of the engineering solutions provider has rejected it. Lone Star said it is considering its position and has until 25 June to decide whether to make another offer or to drop its takeover plans according to London Stock Exchange rules. 2.50pm: Real Good Food climbs after shareholders help with disposal cost