Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
Domestic oil and gas production provided nearly two-thirds of UK demand in 2019.
That’s according to industry body Oil & Gas UK, which suggests this highlights the critical role the UK’s fossil fuel resources continue to play in providing a secure and affordable supply of energy.
It notes production from the UK Continental Shelf is enough to provide 63% of the UK’s oil and gas needs and 46% of the country’s total energy.
The organisation calls for continued government support to protect the sector against dangers such as volatile oil and gas prices and operational disruption as a result of the coronavirus pandemic – the report adds the sector is not only needed to help provide energy now but also to act as a driving force behind for Carbon Capture, Utilisation, and Storage, hydrogen and offshore renewables as the country looks to achieve net-zero emissions by 2050.
Mike Tholen, Sustainability Director OGUK, said: “The report highlights the critical role oil and gas continue to play in meeting the UK’s energy and manufacturing needs. Despite lower demand due to lower economic activity in recent weeks, gas remains as the biggest generator of electricity in the UK and represented 40% of the total last year.
It is crucial to support our industry in operating as effectively as possible in these challenging conditions and that the sector’s capabilities and skills are protected both now and in the future. The pressures of a volatile oil price, the lowest gas price we’ve seen in a decade and operational disruption due to Covid-19 means our supply chain is at breaking point.
