Oil industry could see 400 jobs cut every fortnight, report warns

THE number of jobs in the UK oil and gas sector could plunge to just 57,000 in the next few years, with a report warning there could be the equivalent of 400 cut every fortnight.

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That level of job losses would be the same as the closure of the Grangemouth oil refinery every two weeks, according to research by Aberdeen’s Robert Gordon University.

It said in “low-case scenarios”, where the UK makes “slower progress” as the country transitions towards renewable energy, jobs in the oil and gas workforce would drop from 115,000 at present to “as low as 57,000 by the early 2030s”.