Industry hails ‘record breaking’ interest in North Sea

A trade body for the oil and gas sector has welcomed the Government’s announcement for new exploration licences in the North Sea. DECC revealed 167 winners of the 27th oil and gas Licensing Round earlier today, claiming investors’ interest in the North Sea is at “record breaking” levels, with 224 applications received this year. Mike […]

North Sea tax relief could attract £2bn

The Treasury’s decision for a new tax relief scheme in the North Sea could attract £2 billion worth of investment. Trade body Oil & Gas UK made the claim as it welcomed the Chancellor’s announcement today and said it would benefit the nation’s energy security and the public “purse”. It also claims there could be […]

Chancellor says energy in mind for Budget

After receiving the boost of an Emissions Performance Standard from DECC this weekend, the gas industry was told by George Osborne he would work on securing further investment for the North Sea. The Chancellor or the Exchequer said: “As we work towards a new gas strategy in the autumn, Treasury ministers will host a roundtable […]