Cairn Energy finds oil off Greenland

OIL exploration firm Cairn Energy has found oil off the coast of Greenland.

The firm, which has faced attempts by Greenpeace activists to stop it deep drilling, has two types of oil in its Alpha well.

Chief executive Sir Bill Gammell said it was "extremely encouraging" to find evidence of an "active working petroleum system" in the Arctic Sea.

The two types of oil which have been found are being chemically analysed.