INEOS’ North Sea pipeline closure ‘worth £20m a day’

The shutdown of one of the major oil pipelines in the North Sea is worth around £20 million a day. That’s according to industry body Oil & Gas UK, which made the comment following INEOS’ announcement to close the Forties Pipeline System for repair. The pipeline carries around 40% of North Sea crude oil. The […]

Senior figure at Shell appointed to Oil & Gas UK Board

Shell’s Vice President of Upstream in the UK and Ireland has been appointed to the Oil & Gas UK Board. Steve Phimister will replace Paul Goodfellow on the group’s Board of Directors with immediate effect. The team of industry leaders is responsible for deciding Oil & Gas UK’s position on policy matters. Mr Phimister is a chemicals and […]

UK oil and gas environmental impacts down

The negative impacts to the environment produced by the oil and gas sector in the UK has fallen in the last 15 years. That’s in line with the decline of the country’s industry production and the effective use of the best available techniques, according to a report by Oil & Gas UK which captured the sector’s […]

Offshore oil, gas decommissioning to grow steadily in UK and Norway

Offshore oil and gas decommissioning in the UK and Norway is expected to rise “gradually but steadily” in the next 10 years. That’s the forecast made by Oil and Gas UK in its latest report. It states 100 platforms are expected to be completely or partially removed from the UK and Norwegian Continental Shelves during the […]

UK oil and gas production increases but exploration falls

Production of oil and gas in the UK increased by 10.4% last year for the first time in 15 years. That was due to a series of new projects in the North Sea as well as development of technological innovations to maximise extraction from existing fields, according to Oil & Gas UK’s latest report. However, the industry […]

UK oil and gas job losses ‘to reach 120,000’

The number of jobs lost due to the downturn in the oil and gas industry in the UK could reach 120,000 by the end of 2016. Jobs fell by an estimated 84,000 to around 370,000 last year and are forecast to reduce by a further 40,000 by the end of this year, new figures released […]

Oil & Gas UK warns investment ‘collapsing’

Investment in new oil and gas projects in the North Sea is “collapsing”, according to a new report. Oil & Gas UK said the industry is expected to approve less than £1 billion of spending on new projects in comparison to a “typical” £8 billion a year in the last five years. It adds exploration […]

North Sea oil and gas output up in 15 years

Oil and gas production in the North Sea rose for the first time in 15 years despite the fall in prices. Production was up 8.6% in the first 10 months last year compared to 2014, with liquids rising 10.6% and gas 6.1%. Year-end production for the full year of 2015 is estimated to be up […]

New task force to boost efficiency in the North Sea

A new task force to boost efficiency in the North Sea has been launched. The Efficiency Task Force (ETF) aims to make the oil and gas sector more competitive and increase economy recovery at the UK Continental Shelf. Oil & Gas UK is leading the task force which will focus on delivering “behavioural change” to compete with […]

How depressing – price drop prompts oil and gas pessimism

Falling oil prices have really got under the skin of oil and gas explorers in the UK, suggests the latest mood test from an industry trade body. It’s the first time Oil & Gas UK’s index has moved into “negative territory” since 2009. A fall of nine points on the index – which goes between […]