The recent loss of thousands of North Sea oil jobs has sent an icy chill down the spine of an oil industry whose fortunes were amassed with ease when oil prices were over $100-barrel but whose future now looks as grey as a North Sea swell now that oil stands at around $60-barrel.
The loss of confidence in the future of the North Sea oil industry is not surprising. A gloom laden report published in 2014 had forecast that there would be up to 35,000 job losses in the industry by 2019.
Unfortunately this prediction is now well and truly on the way to realisation and in due course may be seen as having been an optimistic view of the dire state of the industry.
Read the full article – http://goo.gl/Zmm1ZR