UK association to step up requests for supply chain support

Oil & Gas UK has warned that the latest oil price falls could undermine the UK offshore industry’s ability to recover and assist the energy transition.
April 21, 2020

Offshore staff

ABERDEEN, UKOil & Gas UK (OGUK) has warned that the latest oil price falls could undermine the UK offshore industry’s ability to recover and assist the energy transition.

Chief executive Deirdre Michie said: “While we have anticipated continued pressures on oil markets, there’s no getting away from the fact that this situation is a body blow for an industry already creaking under the strains of the impact of COVID-19 and sustained low commodity prices.

“The dynamics of [the] US market are different from those directly driving UK-produced Brent, but we will not escape the impact. Ours is not just a trading market; every penny lost spells more uncertainty over jobs, our contribution to public services and to the just transition we all want to see.

“OGUK will be pressing the case for a COVID-19 resilience package to governments in the coming days which will focus on protecting the supply chain, jobs and our ability to continue to reposition ourselves for the future.”

04/21/2020

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