UK: Oil and gas industry welcomes Chancellors Budget measures to support green energy transition energy-pedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energy-pedia.com Daily Mail and Mail on Sunday newspapers.
UK: Oil and gas industry welcomes Chancellors’ Budget measures to support green energy transition
03 Mar 2021
The UK oil and gas industry has welcomed some of the measures announced by the Chancellor in Wednesday s Budget, adding that now close cooperation with the sector is essential to maximise its world-leading expertise and assure a successful green energy transition.
The leading representative body for the sector
OGUK said the combination of taxation and investment measures offers a potentially strong route to transition energy and employment ahead of the much anticipated and crucial North Sea Transition Deal that we are negotiating with Government.
OGUK Chief Executive Deirdre Michie, said:
The UK oil and gas industry has welcomed new measures announced by the UK Chancellor of the Exchequer in his latest budget.
The UK oil and gas industry has welcomed new measures announced by the UK Chancellor of the Exchequer in his latest budget.
That’s according to industry body Oil & Gas UK (OGUK), which noted that close cooperation with the sector is essential to maximize its “world-leading expertise and assure a successful green energy transition”. OGUK said the combination of taxation and investment measures offers a potentially strong route to transition energy and employment ahead of the “much anticipated and crucial” North Sea Transition Deal that it is currently negotiating with the government.
Image: Cubankite / Shutterstock
Rishi Sunak made his traditional pre-Budget pose outside Number 11 Downing Street with the red briefcase before heading to the House of Commons to unveil the Budget for the coming year.
A new UK Infrastructure Bank to boost net zero investment and green savings bonds were among the measures he announced.
The new Budget aims to protect jobs and livelihoods, fix public finances and lay the foundation for a future economy.
Mr Sunak began his speech by saying the government would do ‘whatever it takes’ to set ambitious goals for the coming months.
But what does the industry think?
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