Tuesday 24 February 2015

Oil and gas industry in 'bleak' 2014, finds survey - BBC News

Oil and gas industry in 'bleak' 2014, finds survey - BBC News:



"The UK offshore oil and gas industry has reported its worst annual performance for four decades.



Industry body Oil & Gas UK said falling oil prices and rising costs meant the sector spent and invested £5.3bn more than it earned from sales during 2014.



That outflow of cash was the biggest since massive investment in platforms in the 1970s preceded the flow of oil."



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