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UK energy firms go under as oil price tumbles
2014-12-15 01:17:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: The tumbling oil price has led to a trebling of insolvencies among UK oil and gas services companies so far this year, while 55bn of further oil projects reportedly under threat. Brent crude closed below $62 a barrel on Friday, a five-and-a-half-year low, amid fears of falling demand and oversupply as the global economy slows down. A decison last month by Opec, which supplies about 40% of the worlds oil, to keep production unchanged despite the price fall only served to send crude sliding even...
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