The chief executive of OEUK has pushed back against IEA recommendations to limit North Sea oil and gas expansion. OEUK argues that domestic production is vital for UK energy security and reduces reliance on carbon intensive LNG imports from volatile regions. The industry is calling for a permanent windfall tax replacement to unlock 50 billion pounds in investment. They claim this would allow the UK to meet over half of its domestic energy demand while maintaining the skills needed for the broader energy transition.
