• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 23 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 12 days Does Toyota Know Something That We Don’t?
  • 1 day World could get rid of Putin and Russia but nobody is bold enough
  • 24 hours How Far Have We Really Gotten With Alternative Energy
  • 1 hour Even Shell Agrees with Climate Change!
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

The UK Exports 80% of Its Crude Oil

As much as 80% of the crude oil produced in the UK section of the North Sea is getting exported, The Guardian has reported, citing research from Global Witness.

The report suggests that the fact could be used to pressure the government into rethinking its plan to boost oil and gas production in the North Sea in order to enhance the country’s energy security—as stated by Prime Minister Rishi Sunak last year.

Per the report, over the last twenty years the rate of exports for UK oil had gone up from 60% to 80%. In part, at least, this was the result of shutdowns of refining capacity in the country, The Guardian noted.

The Global Witness research comes a week after another organization, the Energy and Climate Intelligence Unit, said that new projects, such as Rosebank, will add less than 1% of the petrol used in the UK's cars within seven years but will come at a  high reputational cost for a country that’s currently regarded as one of the continent’s green energy leaders.

“It doesn't help with security of supply, because oil and gas are part of international markets and 80 per cent of the oil is exported and processed overseas and who knows where it ends up as fuels,” Dr. Simon Cran-McGreehin, head of analysis at ECIU, told The National at the time. 

The Sunak government’s plans to increase oil and gas production at home has riled up climate change advocates in the UK, who argue this is unnecessary and will only worsen the country’s carbon footprint.

In December, two environmentalist groups filed a lawsuit against one new North Sea project—the Rosebank development—arguing that the field would be incompatible with the UK’s net-zero goal and that the government hasn’t factored in Scope 3 emissions when giving the green light to the plan.

By Charles Kennedy for Oilprice.com


More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • George Doolittle on January 19 2024 said:
    I'm sure Norway is weeping.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News