M&A wave improves prospects for UK North Sea

摘要

London—A wave of mergers and acquisitions is raising hopes for a gradual recovery in the UK’s North Sea oil and gas sector, with new operators coming to prominence at a time of uncertainty over future investment, and environmental pressures. The North Sea industry, which produces crude grades such as Brent and Forties that contribute to the Dated Brent benchmark, has long faced warnings of decline, even as the region, including Norway, accounts for 3% of global oil output and meets a significant share of Europe’s gas needs.