North Sea gas production could protect customers from future price hikes, according to an industry body, as millions today face an increase in energy bills.
Oil and Gas UK
UK energy secretary Kwasi Kwarteng has told MPs there is “absolutely no question of the lights going out” as gas prices across Europe soar.
This year is set to be one like no other for the UK’s changing offshore oil and gas industry.
The chief executive of Oil and Gas UK (OGUK) has written to the First Minister Nicola Sturgeon, issuing a jobs warning over “high-profile negative campaigns” against the Cambo oil field.
Nearly 35,000 UK jobs supported by the oil and gas industry have been lost in the last year as Covid and volatile prices struck, according to a landmark new report.
Details of further government support for decarbonising the North Sea oil and gas sector will be considered by the UK government ahead of its autumn spending review in November, the minister for energy and climate change has said on a visit to Aberdeen.
Trade unions and climate campaigners have called for the creation of an “offshore training passport” to help workers move between the oil and gas and renewables sectors more easily.
The number of people working in the offshore oil and gas sector has returned to levels not seen since before the Covid-19 pandemic.
The Oil and Gas Authority (OGA) has forecast that the number of suspended wells in the UK North Sea will surge beyond 1,550 within five years.
A ban on future exploration licences would “undermine the fragile confidence” within the oil and gas sector, an industry expert has warned.
UK jobs and companies would “pay the price” if ministers agreed a ban on new North Sea exploration, according to a senior industry source.
The UK’s leading oil and gas industry trade body has said any potential ban on new exploration in the North Sea would put the country’s net zero future at risk.
An industry chief is optimistic that government policies axing support for fossil-fuel-related export activity still give scope for the oil sector to “have its cake and eat it”.
Business leaders, including former Liberal Democrat leader Sir Vince Cable, have welcomed a £30million-plus Budget package for the Aberdeen energy sector.
The rapid transition under way in energy means that now more than ever the sector must grasp the opportunities presented by technology.
Poor commercial behaviours that blighted the North Sea oil industry during the 2014-16 downturn were increasingly on display in 2020, a new report shows.
North Sea operators have shelved more than half a billion pounds of decommissioning spending, according to a new report from Oil and Gas UK (OGUK).
A North Sea trade union boss has warned the oil industry is “teetering on the brink” due to a lack of activity and investment in the basin.
It’s hoped a new first of its kind survey will give a "much-needed" insight into diversity and inclusion (D&I) in the oil and gas industry.
Industry body Oil and Gas UK (OGUK) said today it is seeing “very worrying signs” for employment in the North Sea sector.
More than 20 North Sea oil industry big hitters are rallying behind a new collective deal for workers ahead of a critical deadline this week.
A union boss said yesterday that the difficulty of balancing platform maintenance backlogs against the risk of Covid-19 outbreaks was putting North Sea workers in a “dangerous situation”.
North Sea safety bosses have insisted the oil and gas industry is “still in control”, despite a recent resurgence of Covid-19 offshore.
In February I wrote about the challenges and opportunities of the energy transition, prompted by a speech by Oil and Gas Authority chairman Tim Eggar.
A trade union boss has suggested creating a “job share” scheme to help safeguard North Sea oil industry workers’ positions until offshore activity ramps up next year.