North Sea Fares Well Despite Dearth of Exploration

摘要

The oil price collapse and industry downturn that began in late 2014 provoked much pessimistic commentary suggesting that the North Sea oil and gas industry was on its last legs. Pessimistic newspaper headlines, particularly in the UK, were peppered with words such as "demise" and "death spiral." But today the industry has weathered the storm, oil prices have recovered and the situation in 'Northwest Europe is looking pretty good for the most part."