The energy sector is rarely free from the spotlight, but with a potential change of political leadership on the horizon next month, there has been even more talk about the future of the North Sea in the battle to win votes.
By Iain K Clark Solicitor Advocate and Partner, Head of International Arbitration at Gilson Gray
A review of the recent Energy Transition Survey Report by AGCC, KPMG and ETZ finds that sector confidence in the UKCS has dropped sharply, falling from +36 last April to -37 now. At the same time, confidence “remains high in terms of international work” and has even risen slightly since September 2022.
By Stuart Robertson, head of employment at Gilson Gray
The most significant legislative development for employers in the Oil & Gas sector this year is the Retained EU Law (Revocation and Reform) Bill (the “Bill”).
There is potential for Government’s net zero targets to be hampered by offshore wind and carbon capture and storage (CCS) tussling for space in the North Sea.