UK association to step up requests for supply chain support
April 21, 2020
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.
Offshore staff
ABERDEEN, UK – Oil & 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.”
