M&A activity in oil and gas has almost ground to a halt after a flurry of deals last autumn
Demand is insufficient to absorb rising global supplies of this super-cold fossil fuel.
According to a new study from Rystad Energy, the UK led the world in cutting the cost of its offshore oil and gas production.
It is expected that many of the gas discoveries will help displace oil as a source of more sustainable fuel in the regional mix.
Current market conditions are resulting in many US fracking projects failing to break even.