https://www.theguardian.com/business/2024/jan/19/analysis-reveals-80-of-north-sea-oil-is-exported

Guardian Exclusive: Rise in share of UK oil and gas that is exported challenges PM’s claim that fossil fuel extraction brings energy security

The share of UK’s oil and gas that is exported has increased from 60% to 80% over the last two decades, according to findings that will intensify pressure over the government’s claims that “maxing out” the North Sea will increase the UK’s energy security.

On Monday, the government will attempt to pass the oil and gas bill, which they say will boost energy security by creating a rolling annual licensing regime for new fossil fuel contracts. But critics argue that the fossil fuels extracted will be sold on the global market, and the vast majority will be exported.

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Now analysis of government data by Global Witness has shown that in the 20 years between 2004 and 2023 the UK awarded 1,680 licences to companies to extract oil and gas in the North Sea. The analysis found that the share of UK oil and gas that was exported between 2004 and 2022 rose from 60% to more than 80%. During the same period domestic oil production fell by 60%.

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Jonathan Noronha-Gant, a senior campaigner at Global Witness, said the new law would only prolong the UK’s energy problems. “People want long-term solutions to bring down their bills and fight the emissions damaging the climate,” he said. “New oilfields in the North Sea will line the pockets of rich fossil fuel execs; they won’t help the millions of Brits struggling to pay their bills.”

Skidmore said that the reason he had resigned over the bill was because “there is no future energy security in fossil fuels that are extracted by foreign companies, will only be sold on international markets and will have no impact on UK energy security”.

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https://www.theguardian.com/business/2024/jan/19/analysis-reveals-80-of-north-sea-oil-is-exported