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New oil and gas licence plans will withstand legal challenge, says energy boss

The body that represents the UK’s offshore energy sector has insisted it is “confident” plans for new oil and gas licences for the North Sea will withstand a threatened legal challenge from climate campaigners. It is expected the North Sea ...

29 Sept 2022 at 14:49

Scotland

Carbon capture could be worth £100 billion to UK economy by 2050 – report

Carbon capture and storage could be worth £100 billion by 2050, an industry report has said, with analysts predicting the UK has enough capacity to hold two centuries’ worth of emissions. But despite the country being well-placed to ...

27 Jul 2022 at 10:20

Scotland

Trade body Offshore Energies UK starts search for new head

An energy trade body has started the search for a new chief executive officer as the current boss prepares to step down. Offshore Energies UK (OEUK) – formerly Oil and Gas UK – announced that current chief, Deirdre Michie, will ...

03 Aug 2022 at 14:48

Windfall tax could ‘undermine’ energy security targets, offshore chief warns

A windfall tax enforced on oil and gas companies would “undermine” the transition towards energy security, a leading energy chief has said. It comes as 31 companies in the UK’s offshore energy supply chain wrote the Prime ...

24 May 2022 at 11:27

Eco activists ‘could undermine energy security and hinder net-zero effort’

The UK’s leading offshore energy body has warned that environmental activists could undermine the country’s energy security and hinder its efforts to reach net zero. Protests, legal action and publicity stunts by ...

24 May 2022 at 11:35

Oil and gas industry calls on Johnson to reject windfall tax proposal

UK companies servicing oil and gas operators have urged the Prime Minister and the Chancellor against enforcing a windfall tax, in an open letter. Political pressure has mounted on the UK Government for a ...

24 May 2022 at 01:01

Oil and gas producers warn windfall tax would do long-term harm to industry

Rishi Sunak has been warned that a windfall tax on energy firms would see higher prices and do long-term damage to the oil and gas industry. Offshore Energies UK (OEUK), which represents the offshore oil ...

25 May 2022 at 23:00

Scotland

Oil industry will spend £20bn on decommissioning over next decade, say chiefs

More than 2,000 oil and gas wells are expected to be decommissioned in the North Sea over the next decade at a cost of about £20 billion, according to the industry. A number of decommissioning projects ...

22 Nov 2022 at 01:01

Opportunity for prosperous offshore energy sector ‘hangs in balance’ – report

The opportunity to create a prosperous offshore industry that helps the UK move towards net zero “hangs in the balance” as investment falls due to challenges such as windfall taxes, according to ...

28 Mar 2023 at 00:01

Scotland

UK energy import bill more than doubled to £117bn last year, report shows

The UK’s energy import bill more than doubled in a year to £117 billion, a report has found. The Offshore Energies UK report (OEUK) has said this is the first time that annual UK energy import ...

22 Mar 2023 at 00:01

UK ‘must become irresistible place to do energy business’

Private sector investment worth up to £100 billion is needed to deliver key projects to safeguard UK energy security, according to the offshore energies industry. Offshore Energies UK’s 2023 ...

06 Sept 2023 at 00:01

Scotland

Most Scots in no rush to shut down North Sea oil production, poll suggests

Most Scots want to avoid a race to shutdown North Sea production, a poll has found, with more than a third wanting to extend oil and gas extraction. North of the border, 59% of those ...

21 Feb 2023 at 20:02

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