The company has revealed that two columns of oil have been found since drilling operations commenced in November at the Darwin field, about 80 miles north-east of Shetland. Further tests on both discoveries will now take place.

Leo Koot, managing director of TAQA's UK oil and gas business, said: "This discovery proves that the North Sea still has great potential."

The deal sees Mr Buffett's Berkshire Hathaway company and private equity firm 3G agree to take over the food company, famous for its ketchup and baked beans. While the takeover still needs to be voted on by shareholders, it has been approved by the company’s board. This has seen shares in Heinz soar nearly 20 percent in New York to hit the $72.50 price being offered.

The deal, which had been backed by Canadian authorities yet still required US approval, is worth $15.1 billion and represents China’s largest ever foreign takeover.

Joshua Zive of Bracewell & Guiliani, a Washington-based lobbying firm said the approval for CNOOC's latest deal "is likely to be viewed as a positive development. That, in the current climate, is a moment of significance.”

As the mining sector in South Africa has evolved, so too have the mechanisms, tools, items of equipment and software needed to service what is a dynamic, complex and challenging industry. It was in the 1980s that MineWare’s managing director, Paul Saker, first identified the fact that this rapidly growing industry required access to much more detailed financial analysis when it comes to fixed and variable cost modelling.

How can it be that a significant copper deposit, known for over 100 years, owned and operated by a progression of operators – including two leading international names – can struggle along for 93 years and then become an overnight success in 2005?

The service sees credit-card holders post a specific hashtag on Twitter to trigger payments from their accounts. In order to use its purchase-by-tweet facility, Amex members must first link their card to their Twitter account via the financial services firm's app. They then need to go to the firm's Twitter page and select the Favourites section to view which items are on sale and the associated hashtags.