Oil & Gas UK’s Economic Report published today reveals the impact of the challenging business environment on the offshore oil and gas industry and provides the first signs that the sector’s efforts to restore international competitiveness are starting to take effect.
The annual report – published by the UK oil and gas industry’s leading trade association – finds that the sector has been particularly challenged by the drop in commodity prices due to production decline and the sharply rising cost base, but that concerted action by the industry to improve efficiency across the sector is leading…
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