The return of cautious optimism in the North Sea
The UK’s North Sea hub, braced for production declines, has received a boost from new investments and revived interest from the supermajors
There's more optimism around Aberdeen, the main centre for the North Sea oil and gas industry, than there has been for some years. Offshore activity is picking up, albeit from a low base, and the city is slowly filling up again. Oil company executives can't always get rooms in their favourite hotels these days, and taxi drivers—those trusty barometers of economic health—say they're the busiest they've been since the oil-price crash sent industry spending into a nosedive. There's still plenty of vacant work space around, but the signs are positive. Perhaps the clearest evidence of a turnaround in the fortunes of the UK Continental Shelf (UKCS) was the greater-than-expected interest shown in t
Also in this section
12 February 2026
Europe’s focus has shifted from pipeline dependence to price discipline, with the newfound flexibility and greater security coming at a higher cost, panellists said at LNG2026
12 February 2026
Oil and gas major unconcerned by potential supply glut as it bets on growing demand in transport and other sectors, and on the fuel’s long-term role as a ‘stabilising force’ for future energy systems
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
