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North Sea oil production shows biggest fall on record 28-05-2011 9:51 am

North Sea oil production was hit by its biggest quarterly fall since records began as maintenance work cut output, figures yesterday revealed.
 
The updated statistics from the UK government's Department of Energy showed that indigenous crude oil production in the first three months of the year was 15.6 per cent down on the same period of 2010. The decrease was the largest since quarterly records started in 1995.

The department said the drop was caused by "significant" falls in February and March, when there were maintenance work and slowdowns on a "number" of oilfields.

A spokesman said: "The first-quarter drop in North Sea crude oil production is due to maintenance issues and faults with North Sea infrastructure. Figures for April are expected to show these problems have been resolved and production has returned to normal levels."

Gas demand was at its lowest first-quarter level to date, explained in part by "mild weather".


Source: The Scotsman

Location: Edinburgh

http://business.scotsman.com/

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