North Sea oil boost

HURRICANE Energy has made what could be the biggest oil discovery in UK waters this century.

Its latest discovery points to one large field about 60 miles west of Shetland potentially holding one billion barrels of oil.

The company is in talks to sell a stake in the Lancaster field to raise funds ahead of the start of production, likely to start in mid-2019.

Its shares jumped 4¾p to 59p. Chief executive Dr Robert Trice said: “This is a highly significant moment for Hurricane. This is the largest undeveloped discovery on the UK Continental Shelf.”