The new North Sea oil boom

If you thought it was all over for North Sea oil, it’s time to think again. Profits will flow soon for smart investors, says James McKeigue. Here, he reveals the best shares to buy now.

At 9.40am on 2 March this year, the oil platform's alarm sounded. Soon helicopters were being scrambled to airlift workers to safety. For the second time this year, an oil leak at the ageing Cormorant Alpha platform in the North Sea was causing havoc. Eventually, the problem was contained, but the damage had been done.

It was a big blow for Taqa, the Abu Dhabi energy firm that owns the platform. Another leak meant lost production and lots of difficult questions about its safety procedures. But it wasn't the only loser. The platform is also an important pumping station for the giant Brent pipeline system, so when it shut down it stopped oil from other platforms getting to shore.

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James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.