Sector News

Oil & Gas UK welcomes Energy Bill

May 29, 2015
Oil & Gas UK’s chief executive, Deirdre Michie, commented:
‘We welcome the inclusion of an Energy Bill as part of the 2015-2016 parliamentary legislative session announced at the State Opening of Parliament today (Wednesday 27 May). This Bill will formally establish the Oil & Gas Authority (OGA) as an independent, government company (GovCo). The OGA is a critical catalyst for the work being done to sustain offshore activity.
‘We look forward to receiving further details of this new legislation when the Bill is published, that will complete the implementation of Sir Ian Wood’s recommendations for MER UK – Maximising Economic Recovery from the UK continental shelf, in addition to providing the full set of tools and capabilities that the new regulator will need to do this job effectively and efficiently. We hope Government will bring forward this legislation as soon as possible.
‘We are at a critical stage in the history of UK offshore oil and gas development and bold steps need to be taken now to ensure strong activity continues into the future. Oil & Gas UK is dedicated to continuing its engagement with the OGA and HM Treasury, forming a tripartite approach to maximising economic recovery of the UK’s substantial remaining oil and gas reserves, as recommended in the Wood Report and agreed by all major parties, bringing through the change that is so urgently required.
‘The commissioning of the Wood Review and implementation of its recommendations, and the tax changes announced in the 2015 Budget, laid strong foundations for the regeneration of the UK North Sea. The focus of the industry now is to continue its hard work to increase efficiency and address its cost base.’
Source: Oil Voice

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Consumer Packaged Goods

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

How can we help you?

We're easy to reach