The UK is officially leaving the EU. What now for energy?
UK prime minister Theresa May has hailed the dawn of a "Global Britain", but Brexit's critics say it will cripple the economy, kill access to its main market, spark ruinous inflation and shred the country's global influence.
Now that Article 50 has been signed, officially starting the process of the UK leaving the EU, what will it mean for energy? Here are the six main impacts we have identified. What if Scotland leaves - and takes its oil? Most Scots voted to remain in the EU and Scotland's first minister Nicola Sturgeon wants to hold a second referendum sometime in the next two years. About 80% of the UK's oil is produced from Scotland's Exclusive Economic Zone, and the share is rising. If Scotland left, the UK could lose all that. Now that May has triggered Article 50 officially starting the UK's departure from the EU — the country has two years to sort out the divorce. May says the UK will leave the EU with
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks