Friday, January 2, 2015

Global Cooling Watch: 33% Of North Sea Oil & Gas Drillers Face Bankruptcy

A section of the BP ETAP (...A picture shows section of the BP ETAP (Eastern Trough Area Project) oil platform in the North Sea, around 100 miles east of Aberdeen, Scotland

 ..*Standard & Poor’s recently flagged its concern of some of Europe’s biggest oil and gas groups such as Royal Dutch Shell, BP and BG Group. Its primary worry is debt levels which it says have jumped from a combined $162.9bn (£105bn) for the five largest European companies in the sector at the end of 2008 to an estimated $240bn in 2014.*...

Global Cooling Watch: 33% Of North Sea Oil & Gas Drillers Face Bankruptcy

January 1, 2015

 

Third of listed UK oil and gas drillers face bankruptcy

Britain's oil and gas industry is running out of cash as low prices and high levels of debt threaten the sector, warns Company Watch 

 
 
 
 
North Sea Oil Rig
Experts warn rigs could be soon shutting down in the North Sea Photo: Alamy