EnergyWatch

The North Sea is a loss-maker for UK

With the oil price decline, oil extraction in the North Sea cost the UK more than it brought it, reports media.

Photo: Wintershall

The UK lost significant amounts on oil in 2016, shows a new report from Carbon Brief according to The Guardian.

"The sector is no longer the cash cow chancellors have come to expect over the past several decades," said Simon Evans, policy editor at Carbon Brief, to The Guardian.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted aims to be number one on carbon capture

The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.

Nordex downgrades forecast

The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.

Further reading

Related articles

Latest News

See all jobs