Oil & Gas News – Late June 2023
Estimated reading time 1 minute
The UK is at risk of being “starved” of North Sea energy leaving it reliant on imports, a major oil and gas producer has told the BBC.
Ithaca Energy said Labour’s pledge to ban new oil and gas exploration in the North Sea and current taxation policy was “spooking” investors.
Ithaca is almost entirely invested in North Sea oil and gas.
Environmental groups and scientists say new oil and gas fields would take the UK over its carbon budget limits.
