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North Sea Oil sees investment dwindle under regulation change

2014-07-18 17:37:00| Climate Ark Climate Change & Global Warming Newsfeed

Blue and Green: Investment in North Sea Oil has been stifled due to ongoing changes to regulation regarding how the firm operates, a report has stated. The report, by business advisory firm Deloitte, has said many companies may be applying a wait and see policy before committing funds as the industry goes through major regulation changes. The changes derive from rising production costs, with an intent to maximise profit for the UK oil and gas industry. The Oil and Gas Authority, a new regulator still...

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