User Preferences

  • Language - en | ga
  • text size >>
  • make this your indymedia front page make this your indymedia front page

Blog Feeds

Spirit of Contradiction

offsite link Officials and Provisionals Sat Apr 01, 2017 22:54 | James O'Brien

offsite link Interview with Cathal Goulding Mon Dec 26, 2016 17:11 | Cathal Goulding

offsite link Trump, Russia and the CIA Sat Dec 10, 2016 18:23 | Gavin Mendel-Gleason

offsite link Why is my rent so high? Mon Oct 31, 2016 18:51 | Gavin Mendel-Gleason

offsite link Review of Capitalism: Competition, Conflict, Crises by Anwar Shaikh Sun Oct 30, 2016 16:21 | Gavin Mendel-Gleason

Spirit of Contradiction >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Mattie McGrath TD: A dangerous ignoramus

offsite link Religion should have no control over the political process Anthony

offsite link Diarmaid Ferriter: Denial and the language of cute hoorism Anthony

offsite link Fianna Fail liars Anthony

offsite link RTE journalist Claire Byrne brings Fine Gael TD Alan Farrell to heel Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link Syrian War Report ? May 22, 2017: ISIS Rapidly Losing Ground In Eastern Aleppo Mon May 22, 2017 19:01 | Scott
https://southfront.org/syrian-war-rep... If you?re able, and if you like our content and approach, please support the project. Our work wouldn?t be possible without your help: PayPal: southfront@list.ru or via: http://southfront.org/donate/ or

offsite link Al-Saud?s Only Gamble Option Mon May 22, 2017 13:49 | The Saker
by Ghassan Kadi A lot has been said and speculated on about the ?real? objectives of Trump?s visit to Saudi Arabia. Seasoned veteran British journalist/analyst and Middle East expert Robert

offsite link Riding the ?Chechen Gays? scandal on a Unicorn Sun May 21, 2017 20:28 | Scott
Featured image of a Novaya Gazeta reporter Elena Milashina, an author of the article "Honor Killing" receiving an International Women of Courage Award in Washington on March 8, 2013. Depicted

offsite link Moveable Feast Cafe 2017/05/21 ? Open Thread Sun May 21, 2017 11:00 | Herb Swanson
2017/05/21 10:00:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link Security is a threat-driven exercise (ComSec in the age of Big Brother follow up) Sat May 20, 2017 16:28 | The Saker
Dear friends, The following is a follow-up to my recent post about communication security (ComSec).  I decided to write it after reading the comments to the original post which clearly

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Human Rights-Based Integration Policy and the New ?Migrant Integration Strategy? Fri Apr 28, 2017 12:33 | Cliodhna Murphy

offsite link The Citizens Assembly Proposals: A Draft Bill Tue Apr 25, 2017 20:42 | admin

offsite link NUI Galway Announce New Director of Irish Centre for Human Rights Mon Apr 24, 2017 11:50 | Eoin Daly

offsite link Barriers to first trimester abortion care. Sun Apr 23, 2017 12:31 | admin

offsite link Why would any country put abortion in the Constitution? Thu Apr 20, 2017 17:28 | Máiréad Enright

Human Rights in Ireland >>

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-pric...e-gas
© 2001-2017 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy