Over the years, major companies like BP and Shell have invested there. As a result, Aberdeen has more millionaires per capita than London. But now fortunes are changing and people are worried about their jobs.
Norway's trillion-dollar sovereign wealth fund is proposing to drop oil and gas companies from its holdings, saying it already has enough exposure to the industry and wants to protect against fluctuating oil prices.
The city of Aberdeen is synonymous with the oil industry. Over the years, major companies like BP and Shell have invested there. As a result, Aberdeen has more millionaires per capita than London.
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A barrel of the black stuff, which consistently traded above $100 between 2011 and 2013, now costs around $35, as OPEC continues to pump out the oil. Reasons include a bid to halt rival industries like shale "fracking."
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