Saturday 3 December 2016

Providence boosts UK oil production

Published 26/06/2010 | 05:00

OIL

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EXPLORATION firm Providence Resources expects to generate an extra 350 barrels of oil equivalent a day from its onshore Singleton field in the UK, once two more wells have been sunk at the location. Singleton produces 800 barrels of oil equivalent a day from seven wells.

Consumers have faith in recovery

SURVEY

AN increasing number of people believe the economy is recovering, but there is still a long way to go, according to a new survey. Results from the latest AIB/Amarach Recovery Indicator survey show the second highest level of consumer sentiment since the indicator began last year.

US growth slower than estimates

US ECONOMY

US economic growth was slower than previously estimated in the first quarter. In its final estimate, the US Commerce Department said gross domestic product expanded at a 2.7pc annual rate instead of the 3pc pace it reported last month.

Anglo agrees to $125m Dallas deal

Banks

Anglo Irish Bank has agreed to restructure a $125m (€100m) debt it is owed on a skyscraper in Dallas, it has been reported. US investors Barrow Street Capital and Ashkenazy & Agus Ventures bought the building in 2007.

Construction fall worst in Europe

Building

IRELAND'S construction output fell more than 18 other European countries in 2009. The estimate was made by Euroconstruct, a research organisation that analyses construction market trends. Ireland's fall in construction was double that of Spain, the country second most affected by the building downturn.

Irish Independent

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