Oil & Gas
The UK reserves of oil and gas remain at significant levels but the move away from carbon-based fuels have pushed major investments towards renewable energy industries. In 2022 the UK was responsible for approximately 1% of global output of oil and gas.
Although exploration and production of carbon fuels represents a key market for UK manufacturing supply chain companies the longer-term future will be in utilising the skills base and supply chain to support renewables and storage.
The decommissioning of oil and gas infrastructure is a complex operation and requires innovative engineering manufacturing solutions. This is an area where the integrated UK manufacturing supply continues to play a key role, with the UK and globally. Oil and gas supply chain manufacturing expertise is in the UK is particularly strong in the Northeast of England and Scotland.
Oil & Gas News
Oil & Gas News – Early August 2024
Profits have increased by more than 20% at engineering firm Rotork over the last six months. The North Somerset firm makes valves for oil and gas and water businesses across the world. Operating profits rose by 22.3% from £65.3m to £76.5m. https://www.thebusinessdesk.com/south-west/news/15415-profits-soar-to-76.5m-at-somerset-manufacturing-business?utm_source=newsletter&utm_medium=email&utm_campaign=SouthWest_6th_Aug_2024_Daily Costain has won a multi-million-pound front-end engineering and design contract for a new…
Oil & Gas News – Late July 2024
The Scottish secretary has promised that UK and Scottish government ministers will adopt a “one-team approach” to securing a future for Grangemouth oil refinery. Around £1.5m of funding, paid for by both governments, has been allocated to producing a report exploring options for the site. Ministers want to consider longer-term opportunities for Grangemouth that involve…
Trimming expenses along the value stream
In challenging economic times, scrutinising expenses along the value stream becomes imperative for all businesses. Kemet International has been instrumental in assisting companies in reducing costs, particularly in the overhaul and repair of mechanical seals within pumps and valves. Mechanical seals come in various designs and materials, and when they malfunction, replacement or refurbishment are…
Oil & Gas News – Late January 2024
New research has affirmed that the UK Government’s proposed oil and gas licensing bill is unlikely to enhance the nation’s energy security or reduce bills, based on trends in oil production and exports over the past two decades. A new study from Global Witness reveals that despite the sale of approximately 1,700 new oil and…
Oil & Gas News – Early January 2024
Plans for the UK’s first low carbon hydrogen production plant (HPP) have been approved by Cheshire West & Chester Council, in a move predicted to unlock billions of pounds of related investment. The facility will be based at the Stanlow Manufacturing Complex, in Ellesmere Port. Construction is expected to begin this year, with the first…
Oil & Gas News – Late November 2023
More than £20bn worth of work in only ten years, and more than half of it on the seabed and out of sight, is on offer to those wanting to become a link in the supply chain. Removing a lot of kit from the North Sea is very expensive for the oil and gas industry,…
Oil & Gas News – Early November 2023
Oil prices could rise to more than $150 a barrel if the conflict in the Middle East escalates, according to the World Bank. A drawn-out war in the region could drive big rises in energy and food prices, just a year after prices spiked due to the Russian invasion of Ukraine. For now, oil prices…
Oil & Gas News – Late October 2023
Energy storage and clean fuel company, ITM Power, is beginning bidding into projects in the US market. The Sheffield-headquartered business explains it will pursue an accelerated, asset-light entry into the US market, building on its strong relationships with various North America based industry leaders. https://www.thebusinessdesk.com/yorkshire/news/2115109-clean-energy-business-prepares-to-break-into-the-us?utm_source=newsletter&utm_medium=email&utm_campaign=Yorkshire_16th_Oct_2023_Daily
Oil & Gas News – Late July 2023
Hundreds of new oil and gas licences will be granted in the UK, the Prime Minister has confirmed today (Monday 31 July), as the UK Government continues to back the North Sea oil and gas industry as part of drive to make Britain more energy independent. The Government and the North Sea Transition Authority (NSTA)…
Oil & Gas News – Early July 2023
Fuels group, Essar, is extending its distribution network beyond its traditional North West and Midlands regions to the Thames region in a new deal with Essex-based Oikos Storage. Under the agreement, Essar will store and distribute middle distillate fuels at Oikos’s Canvey Island facility to serve the Thames region, including Stansted Airport. Furthermore, the agreement…
Oil & Gas News – Late June 2023
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…
