A new report by Oil & Gas UK on offshore exploration, investment and production published today has revealed striking evidence of how rising costs, taxes and inadequate regulation have taken their toll on the UK industry’s international competitiveness.
According to the sector organisation, its Activity Survey 2015 highlights “the urgency with which measures are needed to secure new investment and address the collapse in exploration, if the UK is to maximise economic recovery of its still significant untapped resources.”
One positive finding of this year’s survey is that production in 2014…
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