Original title: UK Risks Exodus of North Sea Oil and Gas Contractors, Lobby Says
UK oil and gas producers — already suffering from high taxes and waning output — now also face the imminent risk of being hit by a pullback in operations by equipment and services suppliers, a lobby group warned. Offshore Energies UK has previously said that the lack of new developments and uncertainty over projects mean firms in the supply chain — from engineers to specialist manufacturers to technology providers — could choose to instead invest overseas. On Wednesday it emphasized the urgency to address the risk, which could pose another headache for the government ahead of the autumn budget.