• 3 hours India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 8 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 12 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 18 hours Conflicting News Spurs Doubt On Aramco IPO
  • 19 hours Exxon Starts Production At New Refinery In Texas
  • 21 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 7 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 7 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 7 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 7 days District Judge Rules Dakota Access Can Continue Operating
  • 8 days Surprise Oil Inventory Build Shocks Markets
  • 8 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 8 days Syria’s Kurds Aim To Control Oil-Rich Areas
The Safest Way To Bet On The Bitcoin Boom

The Safest Way To Bet On The Bitcoin Boom

Often described as the backbone…

UK Oil And Gas Costs To Rise 100% If Brexit Fails

UK Oil And Gas Costs To Rise 100% If Brexit Fails

Brexit negotiators’ failure to secure…

Leaked Memo Sees Oil And Gas Sector As Low Priority For Brexit

Brexit

A leaked government document reveals securing the future of the steel and oil and gas sectors will be a low priority during Brexit negotiations.

Officials have divided British industries into high, medium or low priority categories according to a document which was obtained by The Times.

The government plans to focus most of its efforts on higher ranking sectors including pharmaceuticals, car making, textiles and clothing, aerospace and air transport industries, while industries like steel, construction, oil and gas, telecoms, environmental services, water and medical will remain lower priorities.

The document was reportedly circulated in November, but a government spokesperson declined to comment to The Times. However, a source said the list does not reflect the government's view of the importance of the sector but rather the level of work needed to assist them through the Brexit process.

The Scottish National Party has "condemned" the government for categorising the oil and gas industry as low priority. SNP energy spokesperson and MP Callum McCaig said, "To give the oil and gas sector a low priority is a real betrayal."

"There is no need to prioritise some industries over others - last year the CBI produced a major report on the Brexit challenges facing several sectors which avoided any prioritisation of one over another," McCaig said.

Related: Oil Prices Rise As OPEC Compliance To Cuts Hits 90%

In December, a study by the Confederation of British Industry (CBI) said the government must take care not to sacrifice some sectors for the sake of scoring a good Brexit deal for others.

The steel industry's main challenge, according to the document, is not having enough market access for the industry to continue to flourish due to low cost dumping from China, which is not essentially an EU issue.

However, it says issues like Trade Defence Instruments need to be negotiated at a European-wide level.

By City A.M.

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News