KEDO, the American-led consortium supposed to master-mind the project, and which also includes South Korea, Japan and the European Union, has to beg and scrape each year to find the cash for the 500, 000 tonnes of heavy fuel oil promised to North Korea to tide it over until electricity from the two new reactors comes on stream.

ECONOMIST: America and North Korea

Of the five fields that have received approval or come on-stream this quarter, four qualify for the small field tax allowance and one qualifies for the ultra-heavy oilfield allowance.

BBC: Deloitte: Prolonged winter subdued North Sea activity