So what happens to the UK oil and energy industry? The industry was hoping to see continued high levels of investment, stemming the inevitable decline of production as North Seas resources are used up. But falling oil prices have put that in doubt.However, the Department of Energy and Climate Change said: The recent sharp reductions in oil prices are very challenging for companies active in the North Sea. We have seen very little evidence of new projects being cancelled or deferred in reaction to lower oil prices. Which means the real pain is only just starting, first in the UK and soon everywhere else.
Posted on: Fri, 19 Dec 2014 10:38:55 +0000
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