Battling the Brexit blues
The UK's planned withdrawal from the EU in 2019 is causing uncertainties for the North Sea industry at a time when it could do without them
Just as the UK oil and gas industry starts feeling the rejuvenating effects of an oil-price recovery, the threat of a "hard" Brexit is adding a significant dimension of risk for an industry fighting to extend its life. Aberdeen, the main base for the North Sea industry, has always been international in its outlook. UK exports in oil and gas-related goods and services worldwide was worth around £73bn in 2016, representing about 5% of all UK trade. The sub-sea sector alone, which is entrenched in a corridor to the west of Aberdeen, exports £7.5bn worth of goods and services a year. And wherever in the world there's an oil and gas hub, there's a good chance the native accent of north-east Scot

Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term, raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio