Offshore Oil & Gas Sector

In the UK in the first week in June 2017 over 50% of all electricity was generated from renewables, with 10% from offshore wind farms, highlighting the benefit of the $20 billion investment since 2014. During 2016, the UK’s North Sea oil investments fell to less than $25 billion. Globally sanctioned oil projects have been at the lowest level in more than 70 years and exploration spending is excepted to fall again in 2017.