The beleaguered North Sea oil industry has warned that it is at a "critical" juncture in the wake of the vote to leave the European Union.
The global oil price fell more than five per cent overnight as markets reacted to the shock vote.
The sector has already been badly hit in recent years, following previous oil price plunges.
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Last year taxpayers got less money out of the North Sea than they put in for the first time since records began.
Oil and & Gas UK said that the industry would "respect" the result.
But it added that the sector was at a "critical juncture".
Read more: Britain votes to leave European Union despite Scotland wanting to Remain
The body, which remained neutral though the campaign, called on politicians to "come together and work constructively to make this transition as smooth as possible."
It also called for a "clear outline" of what the exit process might involve.
It added: "We need to ensure the UK Continental Shelf continues to attract investment and be seen as a great place to do business."
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The oil price fell 5.2 per cent or $2.7 to $48.25 a barrel in the wake of the Brexit decision.
Oil giants Royal Dutch Shell and BP also saw the value of their shares tumble.
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