..*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