May 22, 2017
BP revisits 1970s petrol station — but wants to step on the gas
North Sea oil has long inspired feelings of national pride. In Brexit Britain BP's announcement would seem to further fuel the arguments of all those seeking to take back control by taking us back to the 1970s. Mark Thomas, the oil company's North Sea regional president, spoke of further "Exciting opportunities" - not least the Clair Ridge project, coming online next year. If anything Monday's news is more of a last hurrah for BP in the North Sea, and for the UK Continental Shelf more broadly. With the strongest capital flows - and investor buzz - focused on unconventional US resources, traditional offshore oil can seem as fashionable as a set of free "Crystal" tumblers from a 1970s petrol station.
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