Survey suggests 76% of oil and gas industry contractors are less confident about their activities than they were a year ago, with two-thirds forced to decommission projects
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.