Most oil and gas companies working in the North Sea canceled projects and about half have cut staff because of the weak oil market, a survey found. The Aberdeen & Grampian Chamber of Commerce, in partnership with law firm Bond Dickinson, said 67 percent of the companies working in the North Sea have been forced to shelve projects and half have been forced to cut staff in the depressed crude oil market. “Confidence levels are at an all-time low and we are now experiencing our first ‘recession of confidence’, and it looks gloomy in the year ahead too,” James Bream, policy director for the chamber of commerce, said in a statement. The price for Brent crude oil, a North Sea […]