"At the time of writing, the future of the UK's Moffshore oil and gas sector is looking more and more uncertain by the day. As the price of Brent crude oil falls to below $60 a barrel OPEC, having flooded the market is preparing to call an emergency meeting ahead of its summit in June. The 2014 Activity Survey released last month by Oil and Gas UK. claims that the North Sea industry lost around ￡5.3 billion in 2014. a loss which has not been witnessed on such a scale since the 1970s. The report also stated that without sustained investments in new and existing fields, critical infrastructure in the North Sea is likely to disappear, effectively sterilising large areas of the basin for any further production.
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