User Preferences

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

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Daniel McConnell: Happy to wear establishment blinkers

offsite link State failing in its duty to enforce law Anthony

offsite link Elaine Byrne/Fergus Finlay: Afraid to condemn their own? Anthony

offsite link Jobstown trial exposes mainstream bias Anthony

offsite link RTE: Blatant censorship and manipulation of news Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link Syrian War Report ? August 17, 2017: Iran Builds Long-Range Missile Factory In Syria Fri Aug 18, 2017 01:16 | 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 via: https://www.patreon.com/southfront Voiceover by Harold

offsite link A House Divided Against Itself Cannot Stand (Charlottesville 3) Thu Aug 17, 2017 21:58 | The Saker
by Paul Craig Roberts The liberal/progressive/left are enjoying their drunkfest of denunciation. I can?t say I have ever witnessed anything like it.  These are the people who sat on their

offsite link Abby Martin speaks the plain truth about the Zionist regime in Palestine Thu Aug 17, 2017 20:42 | The Saker
Note by the Saker: interesting interview with Abby Martin, I highly recommend it.  Please try to set aside the typical Leftist clichés and language and just listen about what she

offsite link Censorship On Youtube: SouthFront Channel Is Again Under Attack Thu Aug 17, 2017 13:41 | The Saker

offsite link Charlottesville 2 Thu Aug 17, 2017 04:01 | The Saker
by Paul Craig Roberts What the liberal/progressive/left is trying to do with Charlottesville is to associate Trump supporters with White Supremacists and in this way demonize Trump supporters so that

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Ireland?s violation of International Abortion rights: A perpetual Déjà vu. Sat Jul 29, 2017 18:49 | admin

offsite link Call for Papers: Irish Yearbook of International Law Thu Jul 20, 2017 10:54 | Fiona de Londras

offsite link Understanding the Increases in Direct Provision Allowance for Asylum Seekers Mon Jul 17, 2017 11:31 | Liam Thornton

offsite link Ireland?s Failing Abortion Law: Statutory Interpretation, Human Rights and the Detention of Pregnant... Tue Jun 13, 2017 17:08 | admin

offsite link RIA Conference on Human Rights and the Social Sciences, June 22nd. Thu Jun 01, 2017 16:59 | admin

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Kevin McNamara 12:54 Thu Aug 17, 2017 | WorldbyStorm

offsite link Signs of Hope ? A continuing series 11:50 Thu Aug 17, 2017 | WorldbyStorm

offsite link ?Have A Priest In Your Family? It only takes £1 a week? 07:50 Thu Aug 17, 2017 | irishelectionliterature

offsite link Interview with Alan Kelly? 07:14 Thu Aug 17, 2017 | WorldbyStorm

offsite link Holyhead logjam post-Brexit? Surely this wasn?t supposed to happen? 06:04 Thu Aug 17, 2017 | WorldbyStorm

Cedar Lounge >>

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