large figure does not reflect the size of our petroleum industry (it is still very small) so much as the fact that Newfoundland has a much smaller economy than Norway. In population terms it is one tenth of [...] course only one well, and there will be a need for further drilling and analysis to delineate the field and see if it is commercial. But this first discovery does help confirm the expectation that Faroes will [...] of the size, and in GDP terms even smaller. Accordingly, a relatively small scale of activity has had a large relative effect on Newfoundland. In the Faroes, with less than one-tenth of the population of

oilfields in the UK sector. It was Statoil that drilled the first well and, while it is regarded as a dry hole, traces of hydrocarbons were found. Likewise, BP?s well was declared dry, albeit it too produced [...] said in a statement. ?Establishing that the Faroe Shelf holds a working petroleum system is however positive and considerably improves our expectations to finding oil in commercial quantities in the future [...] partnership. This is a particularly important time for FK in that, though it is largely owned by Faroese, the company is expected to float on the London Stock Exchange early next year in a bid to raise £10

Flotta - when news broke that Orkney was to benefit from a massive oil boom. To taste a flavour of the mood in the islands, look no further than the film Local Hero, a huge hit in Britain when it opened [...] - and serves as a powerful symbol of the impact oil has had on the Orkney Islands. A huge orange flame has blazed above the Flotta Oil terminal for almost a quarter of a century now. It can be seen on clear [...] opened in cinemas across the country in 1983. One scene in particular struck a chord with people here. The Hollywood star Burt Lancaster steps out of a helicopter on to a remote Scottish beach. Playing an American

have been drilled in the Faroese sector, and none was successful. Also, it has been made clear by the Faroese authorities that it was their intention to land Faroese oil in Faroe in an attempt to gain [...] discoveries are not big enough for a terminal in Faroe, then we are hopeful, that it should be viable to connect into Sullom Voe Oil Terminal.« However, he acknowledges that it is very early days yet to speculate [...] of by-passing both island groups. Only in October, Sullom Voe Oil Terminal received a major boost, when BP announced in Aberdeen that the company and its partners in the massive Clair oil field ? 75 kilometres

community. Let me first say that my general impression is that the activities on the whole have been carried out in a satisfactory manner. However I still think that this conference is a good forum for dialog [...] studies over the coming months. If we see hydrocarbon production on the Faroe Shelf in the future, the local industry will also face a new challenge with a marked increase in activity. According to the Faroese [...] activities - as you probably know - shall be conducted via the Faroe Islands and that stipulation has meant that the oil companies and their contractors have to turn their focus towards a new market to find

and exactly what progress has been made in Faroese waters. And one can only be impressed by the preparations that have already been made. To take one example the achievement in drawing up a whole new body [...] together. It would be difficult to talk of there being a Faroese community in any meaningful sense. After the event on 18 February you have the feeling that a transformation has been completed. One had the [...] homeland and a base for social functions and cultural activities. In this context the sight we hope to see soon of the Faroese flag flying in Sloane Street takes on a huge symbolic value. On a personal note

place in the Himalaya mountains in 1977 and took up residence in the Pakistani-Indian community in London. There he has lived and worked appearing as a seemingly ordinary man. Benjamin Creme has travelled [...] all" It took the gatering almost twenty minutes to calm down after the man had left in a car belonging to a mr. Gurnam Singh, who had offered to give the man a ride. What happened next gave mr. Gurnam Singh [...] release of Nelson Mandela and more. One prediction that has yet to emerge is a global stock market crash. Maitreya comes not as a religious leader but as an educator in the broadest sense. He will point

comes to me And tells me of her dreams With no attempt to shovel the glimpse Into the ditch of what each one means At times I think there are no words But these to tell what´s true And there are no truths [...] here all day It´s too hot to sleep, time is running away Feel like my soul has turned into steel I´ve still got the scars that the sun didn´t heal There´s not even room enough to be anywhere It´s not dark [...] næstseinasta regla í tekstinum kanska geva eina ábending um: Don´t even hear a murmur of a prayer It´s not dark yet, but it´s getting there Dylan og skúlin Sum fleiri ferðir nevnt varð skaldskapur helst

implemented a so-called “global taxation system”, which means that all activity in a specific area was accordingly taxed in that area. Many birds nests to unravel - “Through this dual tax agree­ment you should [...] made it known that their interest in having oil activities based in the Faroes is very much linked to exactly this agreement”. The situation has been that both the UK and the Faroes have each in their [...] operate in the Faroes. The taxation system has been quite unclear and for many oil companies based in London, this unclear situation has created problems. The new taxation agreement however has turned things

In the Faroes not a single drop of oil has been produced yet, but this situation has not prevented income from large oil revenues. In total the Faroese society has made app. 200 million kroner directly [...] included in the overview. It has to be said that several of these projects are being conducted at foreign institutions and universities, and therefore it is difficult to evaluate how large a part of the [...] for the Faroe society. It is all a question of definition”, Mr Joensen points out. He stresses that the overview is only intended to highlight what incomes the various posts in the overview have generated