Scottish First Minister Nicola Sturgeon
OGUK issues North Sea investment warning
The industry lobby group is concerned that a slowdown in UKCS spending does not translate into a stop
Investment on the UK continental shelf (UKCS) in 2020 fell by around a third from almost £5.5bn ($7.6bn) the previous year, to £3.7bn, the lowest level in real terms since 1973, according to the Economic Report 2021, released at the start of September by industry lobby group Oil and Gas UK (OGUK). The contraction in investment seen by the UK’s oil and gas industry is larger than that seen across the sector globally, estimated as down by 27pc year on year by consultancy Rystad Energy The decline is also greater than that seen by other sectors of the UK economy. Overall UK business investment fell by 17pc in early 2020 compared with before the pandemic, according to the country’s official stat
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
