Reported in Energy Voice only two hours ago, the first oil flowed from the Dana Petroleum-owned £1.5billion ($2billion) Western Isles development on 15th November. The fields it draws the oil from are called Harris and Barra (!).
It’s expected to produce 44 000 barrels per day or at today’s prices, around $2 700 000 worth of oil. With costs around £15 per barrel that’s profits of around $66 000 per day. Tax!
No end to the evidence of a long life yet in North Sea oil production and taxes for an independent Scotland sometime in the 2020s? See earlier reports: