Franking Machines

BP have said that they have discovered a giant oil field in the Gulf of Mexico. Currently production in that area is more than 400,000 barrels a day. The total depth of the hole drilled is 35,055ft making it one of the deepest holes drilled to date and the reserve is expected to produce 250 million barrels of oil. When the news was announced shares in BP surged. There are now new hopes that the price of oil will stabilise following the wide variation in price over the past year.