Member

However, although these regulations are narrow in scope, they sit against a wider backdrop of serious uncertainty across the oil and gas industry: uncertainty for investment, jobs and energy security. Industry has repeatedly raised concerns about the UK’s investment environment, the cumulative effect of fiscal and regulatory decisions, and the risk that capital and skilled workers will drift to more competitive jurisdictions. At the same time, the Government’s plans for carbon capture and storage rely heavily on significant private investment. That investment will not come forward without long-term confidence and a stable framework—which industry leaders are warning is increasingly at risk.