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Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

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offsite link Robert Watt complaint: Time for decision by SIPO Anthony

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Lockdown Skeptics

The Daily Sceptic

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Jeremy Corbyn's new hard Left party has been plunged into chaos as his co-founder Zarah Sultana claimed she had been "frozen out" from the "sexist boys' club" and Corbyn threatened her with legal action.
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offsite link Sadiq Khan?s Officials Suppressed Report Showing LTNs Don?t Cut Car Use Fri Sep 19, 2025 11:00 | Will Jones
Sadiq Khan?s officials suppressed taxpayer-funded research that showed low traffic neighbourhoods (LTNs) do not reduce car use after the London Mayor spent five years baselessly claiming LTNs are good for the planet.
The post Sadiq Khan’s Officials Suppressed Report Showing LTNs Don’t Cut Car Use appeared first on The Daily Sceptic.

offsite link Europe?s Days of Carbon Colonialism are Numbered Fri Sep 19, 2025 09:00 | Tilak Doshi
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offsite link The Sceptic | Episode 51: Charlie Kirk, Free Speech and the Scourge of ?Anti-Fascism?, and Why Brits... Fri Sep 19, 2025 07:00 | Richard Eldred
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offsite link News Round-Up Fri Sep 19, 2025 01:07 | Richard Eldred
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Voltaire Network
Voltaire, international edition

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Corrib benefits from high price of gas

category national | worker & community struggles and protests | press release author Friday March 03, 2017 23:32author by shell2sea Report this post to the editors

[Shell to Sea]The Oil & Gas giveaway in action: The Corrib Gas partners made $589m (estimated €532m) last year and yet paid no royalties or tax.

The Corrib Partners are benefiting from a relatively high gas-priced product and recorded estimated sales of over €420m in the first full year of production at the Corrib gas field.

Production started on the field at the end of 2015. For the 12 months of last year, the Corrib Partners, including Shell Ireland, recorded estimated revenues of (Canadian) $589m from the production of gas from the field.
Taken from Pg 50 of Vermilions Annual Financial Report 2016: available
Taken from Pg 50 of Vermilions Annual Financial Report 2016: available

This follows a new report by one of the Corrib partners, Canada-based Vermilion showing that it has generated sales of $109m for the 12 months.

Vermilion owns 18.5pc of the field and based on Vermilion's Corrib sales between January and December of last year, the total sales from the field for the three partners would be $589m (€423.47m).

Vermilion state that its investment in the field will be a significant source of fund flows for Vermilion "stemming from its relatively high priced gas product".

Vermillion also point to the field being a significant source of fund flows to the firm from the "lack of cash income tax for the foreseeable future" along with the absence of royalties, low operating expense and low-maintenance capital requirements.

The new results for Vermilion show that the amount it recorded in sales from Corrib increased sharply in the final quarter of last year.

According to the Vermilion report "production results continued to benefit from better than expected well deliverability and minimal downtime".

Vermilion 'fund flows from operations' last year totalled $79.24m after taking costs into account.

The Vermilions Annual Financial Report 2016 is available here:
http://www.vermilionenergy.com/files/ir/2016/Annual_Rep...6.pdf

Related Link: http://shelltosea.com/content/corrib-benefits-high-price-gas
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