BP GETS WEST SHETLAND GREEN LIGHT

BP YESTERDAY got the green light to drill a deepwater well to the west of the Shetland Islands. Permission from the government came a day after George Osborne pledged £3bn in field allowances to encourage exploration in the West Shetlands. Although BP first applied to drill in North Uist as early as 2009, it suspended the plans in light of the Deepwater Horizon disaster.