UP to 30,000 jobs could be lost in the UK North Sea industry as the Covid-19 pandemic and collapse in global oil prices continue to ravage the fragile sector, according to a stark update by trade body Oil & Gas UK(OGUK). Following a survey of its members, OGUK said 25,000 to 30,000 jobs directly and indirectly supported by operators and the supply chain could be lost, although the final number is dependent on the ability of the industry to maintain activity. Many companies are now expecting even more dramatic falls in revenue this year than just a few weeks ago, sparking concerns about the ability of some to survive a downturn that is likely to be even more severe than the one in 2015 from which the sector is just emerging. OGUK has again asked governments and regulators for support in dealing with the immediate crisis. OGUK chief executive Deirdre Michie said: "With historic low oil and gas prices coming so soon after one of the most severe downturns our sector has experienced, these findings confirm an especially bleak outlook for the UK's oil and industry.
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