The oil and gas industry is well-established in the UK, historically focusing on exploiting conventional oil and gas fields, both onshore and offshore.
- The UK was formally a net exporter of oil and gas, but is now a net importer.
- Oil and gas made up 75% of the energy supplied in the UK in 2018.
- In 2018, net imports made up 13% of the oil the UK used, with the remainder from domestic production.
- Net imports of natural gas were 50% of UK supply in the same year.
- The majority of oil, 77% of final consumption, is refined for use in transport.
- Just over one third of the UKs total gas is used for domestic heating, and just under one third for electricity generation. Other major users are industry and business.
- The UK is also a net importer of petroleum products (in total) such as petrol, diesel and heating oils.
This paper provides a brief overview of the industry and relevant issues, recent parliamentary comment and other press releases and articles.