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The North Sea Oil Recovery Is Dead In The Water

At an oil industry conference in the North Sea’s oil capital, Aberdeen, the chief executives of BP and Royal Dutch Shell both offered bullish assessments for the turnaround underway off the coast of Scotland. BP’s Bob Dudley said the North Sea is “back to growth,” according to the FT. So, far from a boon for the country, the North Sea is in danger of becoming “a significant annual expenditure for government, rather than a provider of income” in the decades to come, according to a Wood Mackenzie assessment from earlier this year. FULL ARTICLE

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