It cited analysis by Boston Consulting Group stating that by 2038 there would be 1,000 offshore structures in the Arabian Gulf that would no longer be economically viable.

Emerging markets are unprepared for the financing challenge of decommissioning activities to come, Fitch Ratings ESG unit has warned.

Emerging markets have only seen limited decommissioning work thus far, Sustainable Fitch said in a report today. Brazil has carried out work on a “handful” of projects, while Angola, Thailand and Indonesia are working on their first decom steps.

Read more here