A new EY survey finds a steep fall in new oil and gas projects in the UK North Sea. The number of UK oil and gas projects drops to three last year, down from 16 the year before.
The report is cited as evidence that investment momentum weakens, with one outlet attributing the decline to Labour policy. The coverage also frames the change as an 81% reduction in project numbers, using the survey’s figures as the basis for the claim.
Other details in the available reporting are limited, but the common thread across the sources is the same: the survey measures a sharp contraction in the number of projects coming through in the UK sector. The differing emphasis is on who is blamed for the decline, rather than on the underlying project-count change reported by EY.
