Advertisement
UK markets closed

  • NIKKEI 225

    38,471.20
    -761.60 (-1.94%)
     

  • HANG SENG

    16,248.97
    -351.49 (-2.12%)
     

  • CRUDE OIL

    85.27
    -0.14 (-0.16%)
     

  • GOLD FUTURES

    2,408.30
    +25.30 (+1.06%)
     

  • DOW

    37,897.24
    +162.13 (+0.43%)
     

  • Bitcoin GBP

    50,546.61
    -437.18 (-0.86%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • NASDAQ Composite

    15,921.21
    +36.20 (+0.23%)
     

  • UK FTSE All Share

    4,260.41
    -78.49 (-1.81%)
     
Money:

How to avoid tax creep in retirement

The state pension went up 8.5% in April, but frozen thresholds mean pensioners will be paying more tax

Shell sees significant oil discovery in Albania

Reuters - UK Focus

By Benet Koleka

TIRANA, May 24 (Reuters) - Shell Upstream Albania B.V. said on Friday initial tests showed "a flow potential of several thousand barrels of oil per day" from its Shpirag 4 well in central Albania, and it needed more work to determine its commercial volume.

"We are pleased that these initial tests have confirmed the potential of this discovery and look forward to growing our business in Albania," Marc Gerrits, Shell's Executive Vice-President of Exploration, said.

The Shpirag 4 well west of Berat had confirmed the flow potential of a significant light oil discovery, it added.

More appraisal work was needed to assess commercial volumes in Shpirag, in an equivalent geological setting to the large Val D’Agri and Tempa Rossa fields in Italy, Shell Albania said.

It plans to go ahead with extended production tests on the Shpirag 4 well and more drills to appraise the Shpirag 3 well, while exploring others to test their potential. (Reporting by Benet Koleka, editing by Louise Heavens)