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British government to help fund new oil regulator until 2022

Posted on 17 July 2014

The British government announced on Wednesday another 3 million pounds ($5.14 million) a year in funding for the country’s new oil regulator until 2022, after which it will be fully financed by the industry.
The Oil and Gas Authority (OGA), which will be based in Aberdeen, Scotland, will be responsible for ensuring that oil explorers squeeze as much oil and gas out of Britain’s North Sea as possible. It is expected to start operating later this year………………………………………..Full Article: Source


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