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Britain's oil review stresses need for new regulator to lift output
2014-02-24 02:45:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: Britain urgently needs its oil and gas companies to pay for a new regulatory body to encourage industry collaboration and counter plunging North Sea production rates, a government review, the first since the mid-1990s, said on Monday. Britain's oil and gas output has fallen about two thirds since its peak at the turn of the century, but reforms could lead to 200 billion pounds ($330 billion) worth of extra oil and gas being extracted, the government said. The North Sea is thought to contain...
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