There was relief among those involved in North Sea oil and gas that Rishi Sunak avoided legislative changes affecting the industry. Companies are still developing coping strategies for the event that the oil price remains low at about $30 a barrel. Prices have plunged in the days since Russia and Saudi Arabia entered a stand-off about production levels. The sector had only recently started to properly recover following the last price downturn during 2015 and 2016.
Times 12th March 2020 read more »