The leading offshore UK trade body has claimed North Sea firms could spend up to £250 billion domestically by 2030, “far greater” than any sum to be raised through a windfall tax.
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.
Oil and Gas UK (OGUK) has warned that the UK’s energy transition is at risk of stalling unless the industry receives “vital support” from government.
The North Sea energy industry is facing some of its “most difficult and most testing challenges” ever as it today marks 45 years since first oil was landed in the UK.
Struggling North Sea firms need swift and long-lasting financial protection to weather an oil price and Covid-19 storm that has the potential to impact the industry “for years to come”.
Energy Voice and Granite PR have held their first co-branded Gateway event in Abu Dhabi, with a pre-conference breakfast involving ADNOC, where the importance of innovation and co-operation was high on the menu.
When we published our Business Outlook earlier this year, there was clear evidence of the building momentum around exploration.
The chief executive of Oil and Gas UK has said the industry will prevail against claims it faces “extinction” in the fight against climate change.