UK/UKCS
News
March 16, 2023
The vow comes as competition in the race for clean technology heats up after President Joe Biden’s $370 billion climate bill, which raised tax credits for capturing carbon dioxide.
News
March 14, 2023
Under the proposals being considered by the Treasury, the additional 35% levy would cease to apply if energy prices fall below a given level, according to a person familiar with the matter.
News
March 13, 2023
Ireland is becoming ever more reliant on Britain for gas supplies, with UK imports more than doubling since 2017 to 75% of Irish demand, and set to hit 90%, a report from OEUK will say.
News
March 08, 2023
The research, carried out by Professor Alex Kemp and Artuto Regaldo, shows the Energy Profits Levy (EPL) is likely to discourage investment in new offshore oil and gas developments, particularly smaller fields, in the UK.
News
March 03, 2023
The transaction includes a non-operated interest in the producing Buzzard oil field (29.89%), an additional operated interest in the Rosebank development (40%) and Suncor employees based in the UK who work with these assets.
News
February 07, 2023
Multiple sources have reported calls by opposition politicians and union leaders for another increase in the windfall taxes on energy producers, linked to BP’s latest global profits announcements. OEUK said such a levy risked breaching global tax agreements and could never be implemented.
News
January 30, 2023
Equinor awarded a front-end engineering design (FEED) contract the low-carbon hydrogen production plan H2H Saltend to Linde Engineering. Equinor also awarded an operation and maintenance service contract to Linde company BOC.
News
January 24, 2023
Produced in partnership with Scotland-based documentary maker Thomas Hogben, ‘The Time is Now: the UK’s changing energy industry’ intimately captures the hopes, fears and ambitions of some of the people working on the frontline of the UK’s energy transition.
News
January 23, 2023
The Press Association has reported a speech by Rachel Reeves at the Fabian Society Conference, saying that a Labour government would extend the windfall tax on UK North Sea operators from 75% to 78%. In response, OEUK said the impact of such changes would be disastrous for the UK’s energy supplies and future energy security.
News
January 19, 2023
OEUK’s external relations director, said, “Keir Starmer’s suggestion that there should be no further investment in North Sea oil and gas will be deeply upsetting to the many workers and communities dedicated to providing the UK with energy. It will also further damage investor confidence."
News
January 18, 2023
Harbour Energy, the North Sea's biggest oil and gas producer, has told staff it plans job cuts, linked to the windfall tax imposed on the UK sector last year. The jobs would be cut in Harbour Energy's headquarters in Aberdeen.
News
January 17, 2023
The process, which will provide a significant boost to the UK’s energy security, opened on Oct. 7 and offered acreage across the North Sea. It included four priority areas, which have known hydrocarbons, in which there was very keen interest and could see production in as little as 18 months.
News
December 29, 2022
The oil and gas industry warns that the Energy Price Levy, which slaps a 35% rate on profits from North Sea producers, risks drying up investment in a sector that’s key to the country’s energy security even as it transitions away from fossil fuels to achieve climate goals.
News
December 29, 2022
The agreement will see the companies examine the potential to supply renewable electricity from Ørsted’s Hornsea offshore windfarm projects to power future Neptune-operated hubs in the UK North Sea.
News
December 22, 2022
Britain’s wind farms produced nearly 74 terawatt hours so far this year, enough to power more than 19 million British homes, according to National Grid data. That exceeded the previous record of 68 terawatt hours set in 2020.
News
December 19, 2022
Ramping up projects such as wind farms at sea is set to play a key role if Europe is to reduce its dependence on natural gas and cut carbon emissions. The UK plans to increase capacity of offshore wind production fivefold to 50 gigawatts by the end of the decade.
News
December 14, 2022
OEUK warned that the declining output from the UK’s existing fields meant continued exploration and financing were vital for the UK’s energy security. They also announced David Whitehouse as the new CEO.
News
December 08, 2022
Earlier this year, UK Chancellor Hunt increased a windfall tax on profits for the sector to 35%, from 25%, and extended it to 2028 to help subsidize energy bills that have soared on natural gas prices.
News
December 02, 2022
Neptune Energy and its license partners on Dec. 2 announced a new discovery at the Calypso exploration well (PL938) in the Norwegian Sea. Preliminary estimates are between 1 to 3.5 million standard cubic meters of recoverable oil equivalents, corresponding to 6 – 22 million barrels of oil equivalent.
News
November 30, 2022
Offshore Energies UK, the leading trade body for the UK’s offshore energy industry, has launched a report pinpointing key skills shortages that could put the transition to cleaner energies at risk.
News
November 30, 2022
Government and industry gathered on Nov. 30 to discuss energy security, the energy transition to net zero and challenges to maintaining investment in the North Sea during a forum hosted by industry regulator the North Sea Transition Authority (NSTA).
