Oil & Gas UK says industry lost £5.3bn in 2104 and that without sustained investment critical infrastructure will disappear, leaving fuel in the ground
The North Sea oil and gas industry is facing a severe challenge to its future viability after suffering a dire year which involved the worst losses in decades, a new report has revealed.
Oil & Gas UK said its annual activity survey painted a bleak picture of the North Sea’s prospects after discovering that the sector as a whole lost £5.3bn last year, the worst figure since the 1970s.