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Commodities 2024: UK North Sea to see oil mini-revival in 2024 despite tax row

December 20, 2023 Comments Off

A drive to boost UK energy security is providing some reassurance for a North Sea industry buffeted by tax hikes, environmental opposition and reservoir decline, amid signs of a mini-recovery for oil in the coming years. Never known for over-exuberance, the North Sea industry’s mood has worsened of late. Oil output is in sharp decline — it fell 12% year-on-year…