Reported about 1 year ago
A 48-year-old former North Sea oil platform, the Northern Producer, was blown up due to a lack of interest following a tax raid on the oil and gas industry by the UK government and Labour threats. The demolition coincided with the publication of Labour's manifesto, leading to companies walking away from North Sea projects due to political uncertainties and negative rhetoric, such as Deltic Energy abandoning work on a significant discovery and Jersey Oil and Gas postponing work on the Buchan field. The industry faces challenges with companies cutting investments, platforms being removed, and fields closing down.
Source: YAHOO