Rise in UK Oil, Gas Output

Rise in UK Oil, Gas Output

The chief executive of Oil & Gas UK has welcomed the first increase in production on the UK continental shelf for over 15 years. Deirdre Michie, however, warned the industry will be "extremely challenged" to sustain growth in 2016, BBC reported. Oil & Gas UK said oil and gas production increased by 7% in the past 12 months. "Government data for the first 10 months of 2015 shows that the total volume of oil and gas produced on the UK continental shelf was up 8.6% compared with 2014, with the production of liquids up 10.6% and gas up 6.1%," it said. "In February 2015, we predicted a marginal increase in production for 2015, but the industry-wide focus on improving production efficiency coupled with investments of more than £50 billion over the last four years to bring new fields on stream across the last 12 months is paying off and yielding a better result." Michie added that there will be job losses in the industry in 2016, but the UK continental shelf still holds great importance.


Short URL : http://goo.gl/1BS6NC
  1. http://goo.gl/t5RzIc
  • http://goo.gl/GgfYUg
  • http://goo.gl/mJLiij
  • http://goo.gl/j03Y8L
  • http://goo.gl/lKUY2X

You can also read ...

Major Petrochemical Deals Expected in Three Months
Iran's state-owned petrochemical company is planning to...
Iran trades electricity with four neighbors, namely Azerbaijan Republic, Turkey, Armenia and Iraq.
In line with efforts to boost electricity exports to...
Yadavaran Oilfield Revenues at $3.2b
Iran has extracted about 65 million barrels of oil from...
Saudi Arabia raised fuel prices  in December 2015 and announced plans for further increases.
Saudi Arabia is considering a plan to phase out subsidies for...
There is an increasing trend of emissions disclosure among major oil companies.
It is no secret that oil majors are among the biggest...
US Oil Prices Rise Above $50
US crude oil prices rose above $50 per barrel on Monday and...
Rosneft, Iraq's Kurdistan Sign Deal
Russian oil major Rosneft will invest in gas pipelines in Iraq...