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North Sea oil industry faces years of Brexit-induced turmoil

Possibility of another Scottish referendum weighs on investment climate amid low prices and high costs

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Oil and gas producers in the North Sea will spend 40 per cent less this year than in 2014, and the industry's lobby group said it's essential that the current political uncertainty be minimised.

London

THE UK's North Sea oil and gas industry, already reeling from low prices, high costs and collapsing investment, now faces several years of turmoil as the nation's decision to quit the European Union looks set to trigger a second independence vote in Scotland.

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