| From Guardian: One of the most active North Sea oil exploration companies has been forced into administration just six months after the crude price hit record highs of $147 a barrel, in a development that could further undermine Britain's energy security.
Administrators have been called in to try to rescue Oilexco North Sea and industry experts today warned that the collapse was likely to be the start of a trend, given the credit crunch and the recent slump in the value of crude to little over $40 a barrel..... Full Article: Source
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