North Sea oil price slump puts industry confidence at an all-time low



Two-thirds of North Sea oil and gas industry operators have been forced to cancel projects because of the recent fall in the oil price, according to a survey.
Confidence was found to be at an “all-time” low in the sector and activity levels were down in line with the declining oil price, which has fallen below $50 per barrel this year before staging a modest recovery.
An increase in decommissioning, as oil fields are taken out of service, was described as “a bittersweet positive”, with more than 80% of contractors involved in that work seeing increases in their activity in the last 12... read more

 
11 June 2015 in Business, Views: 47
Source: Guardian
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