Government cash for badly hit Aberdeen offshore sector

Government cash for badly hit Aberdeen offshore sector

Britain’s badly battered home of offshore activities, Aberdeen, is to receive £250m ($360m) in funding from the British and Scottish governments. Redundancies in the UK North Sea offshore sector have been in the thousands in recent months.

The extra cash will help pay for an expansion of the city’s port as it aims to bid for oil and gas decommissioning work, a sector expected to be worth £45bn by 2040.

Funding will also go on a new energy research centre.

Scotland’s first minister, Nicola Sturgeon, is pushing for London to make more tax cuts for the oil and gas sector.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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