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...