Home :: Tag Archives: A ticking timebomb in the oil industry is going to cost Britain £24 billion

Tag Archives: A ticking timebomb in the oil industry is going to cost Britain £24 billion

A ticking timebomb in the oil industry is going to cost Britain £24 billion

Britain faces a £24 billion ($29.2 billion) bill for decommissioning ageing infrastructure in the North Sea oil industry — something that will be mandatory in a few years time, according to energy research group Wood Mackenzie, cited by The Financial Times. Decommissioning is when companies dismantle and remove structures for oil and gas operations that are no longer in use. ...

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