The British government has ordered an urgent review of the North Sea oil industry after a collapse in prices that has prompted hundreds of job losses and raised fears for the survival of ageing fields. BP’s UK arm told staff in Aberdeen on Thursday that it would cut 300 staff and contractor jobs from its 3,500-strong North Sea business — the latest in a series of job losses and pay cuts in the sector. More On this story On this topic IN UK Economy During a visit to Aberdeen to discuss the impact of slumping oil prices, Ed Davey, the energy secretary, said he had instructed Andy Samuel, the chief executive designate of Britain’s new Oil and Gas Authority, to “lead an urgent commission, working with industry, to identify the key risks to [UK] oil and gas production”. Mr Davey […]