Scottish First Minister Nicola Sturgeon
OGUK issues North Sea investment warning
The industry lobby group is concerned that a slowdown in UKCS spending does not translate into a stop
Investment on the UK continental shelf (UKCS) in 2020 fell by around a third from almost £5.5bn ($7.6bn) the previous year, to £3.7bn, the lowest level in real terms since 1973, according to the Economic Report 2021, released at the start of September by industry lobby group Oil and Gas UK (OGUK). The contraction in investment seen by the UK’s oil and gas industry is larger than that seen across the sector globally, estimated as down by 27pc year on year by consultancy Rystad Energy The decline is also greater than that seen by other sectors of the UK economy. Overall UK business investment fell by 17pc in early 2020 compared with before the pandemic, according to the country’s official stat
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
