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gas production

Markets

Oil and gas fields’ value stressed

Chancellor George Osborne has received a stark reminder of the oil and gas sector's importance to the UK economy after a dip in North Sea output led to a shock rise in Treasury borrowing.

Oil & Gas

A disturbing Budget

In this month's edition of Energy, I had planned to tell you of the new and exciting approaches being taken by the diverse range of companies that have been attracted to invest in the UK Continental Shelf.

Oil & Gas

2010 critical year for the UKCS

This will be a critical year for the UK sector of the North Sea (UKCS). Output is currently declining at worrying rates. The latest statistics from the Department of Energy and Climate Change (DECC) show UKCS oil production falling at an annual rate of minus 5% and gas production at a massive minus 16%.