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The North Sea is a loss-maker for UK

With the oil price decline, oil extraction in the North Sea cost the UK more than it brought it, reports media.

Photo: Wintershall
BY RITZAU

The UK lost significant amounts on oil in 2016, shows a new report from Carbon Brief according to The Guardian.

"The sector is no longer the cash cow chancellors have come to expect over the past several decades," said Simon Evans, policy editor at Carbon Brief, to The Guardian.

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