The Courier & Advertiser (Perth and Perthshire Edition)
Fall in price of oil claims another Aberdeen firm
Aberdeen-based subsea and surface engineers CIE Well Control has gone into administration with the loss of 21 jobs.
Blair Nimmo and Geoff Jacobs of KPMG said orders began to fall last year as oil and gas operators cut costs and expenditure.
Margins were squeezed as competitors forced pricing downwards, resulting in cash resources being depleted.
Two employees have been retained to market the business and assets for sale.
Mr Nimmo said: “Our appointment today is another example of a business which has been negatively impacted by the low oil price.”