The BP figures were published as the global oil price rose above $55 a barrel.
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BP Oil Output Decline The Ever-Biggest
The high oil price has led to a resurgence of interest in the British sector
British oil production fell by 10% last year, one of the fastest declines in the world, according to BP?s data, revealed yesterday.
The BP figures were published as the global oil price rose above $55 a barrel.
The high oil price has led to a resurgence of interest in the British sector, with firms applying for 279 exploration blocks in the latest licensing round, the energy minister, Malcolm Wicks, said. This is the largest number for 30 years. North Sea producers pumped 2,029,000 barrels over the year; that?s 228,000 fewer than in 2003.
The BP figures were published as the global oil price rose above $55 a barrel.
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