Last mentioned: Mar 24, 2026
Urgent OEUK Warning
Trade body issues a formal warning on the necessity of domestic production for security.
Investment Review
Major operators like Shell and BP announce reviews of North Sea capital expenditure.
EPL Introduced
The UK government introduces the Energy Profits Levy on oil and gas firms.
A leading energy trade body has issued an urgent call for increased domestic oil and gas production in the North Sea to safeguard UK energy security. The warning highlights a growing investment gap and the risk of becoming over-reliant on high-carbon energy imports during the net-zero transition.
Offshore Energies UK (OEUK) has issued a critical warning stating that the UK must accelerate domestic oil and gas production in the North Sea to safeguard energy security. The trade body argues that a failure to reinvest in domestic resources will lead to increased carbon intensity and heightened vulnerability to global supply chain disruptions.