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Tullow makes first Arctic oil discovery

2013-09-06 18:30:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: Tullow Oil, one of the Britain's most successful exploration groups, has made its first discovery in the Arctic in a move which will encourage more drilling and anger green groups campaigning against fossil fuel extraction in the region. Shares in Tullow climbed more than 3% as well operator OMV said it had struck a reservoir in the Barents Sea off the far north of Norway which could contain up to 160m barrels of oil and 40bn cubic feet of recoverable gas. "This is a major frontier light oil...

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