Bank of Scotland vows to back oil and gas industry

Bank of Scotland vows to back oil and gas industry
 

BANK of Scotland (BoS) has vowed not to turn off the taps to finance for the oil and gas sector, where an estimated 66,000 jobs have been lost since the start of last year amid falling prices and rising costs.
A recent report from trade body Oil & Gas UK warned that further job cuts were likely across the current 375,000 North Sea headcount, but BoS head of commercial banking Alasdair Gardner insisted it would not make “knee-jerk ­decisions” based on volatile oil prices, which have roughly halved in the past year to about $50 a barrel.
Gardner told Scotland on Sunday: “We’ve been... read more

 
20 September 2015 in Business, Views: 47
Source: Scotsman
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