Europe / Caspian / CIS
Country profile: United Kingdom
| Location: | Western Europe, islands including the northern one-sixth of the island of Ireland between the North Atlantic Ocean and the North Sea, northwest of France |
| Climate: | temperate; moderated by prevailing southwest winds over the North Atlantic Current; more than one-half of the days are overcast |
| Terrain: | mostly rugged hills and low mountains; level to rolling plains in east and southeast |
| Size: | 244820 sq. km total (Land area: 241590 sq. km Water area: 3230 sq.km) |
| Population: | 60,943,912 (July 2008 est.) |
| Languages: | English, Welsh (about 26% of the population of Wales), Scottish form of Gaelic (about 60,000 in Scotland) |
| Government: | constitutional monarchy |
| Capital city: | London |
| Legal system: | based on common law tradition with early Roman and modern continental influences; has nonbinding judicial review of Acts of Parliament under the Human Rights Act of 1998; accepts compulsory ICJ jurisdiction, with reservations |
| Currency: | British pound (GBP) |
| Licensing: |
Country profile
The United Kingdom (UK) is an important political and economic power in Europe and the world. It has the second-largest economy in the European Union (EU) with a nominal 2005 gross domestic product (GDP) of $2.2 trillion. The UK economy grew by 1.8 percent in 2005, with growth of 2.2 percent forecasted for 2006. While the UK has been a member of the EU since 1973, it does not participate in the European single currency, the Euro. The UK is the largest producer of oil and natural gas in the EU.
However, after years of being a net exporter of both fuels, the UK became a net importer of natural gas in 2004. Government estimates also predict that the country will become a net importer of oil by the end of the decade. Production from UK oil and natural gas fields peaked in the late 1990s and has declined steadily over the past several years, as the discovery of new reserves has not kept pace with the maturation of existing fields. In response, the government has begun a three-pronged approach to address the predicted domestic shortfalls: 1) increasing domestic production through efficiency gains and the exploitation of marginal fields; 2) establishing necessary import infrastructure, such as liquefied natural gas (LNG) receiving terminals and transnational pipelines; and 3) investing in energy conservation and renewables.
Energy production and consumption
| Oil | Gas | |
| Production: | 1 million bbl/day (2005 est.) | 84 billion cu m (2005 est.) |
| Consumption: | 1 million bbl/day (2005 est.) | 91 billion cu m (2005 est.) |
| Exports: | 1 million bbl/day (2005 est.) | 8 billion cu m (2005 est.) |
| Imports: | 1 million bbl/day (2005 est.) | 15 billion cu m (2005 est.) |
| Reserves: | 4 billion bbl (1 January 2006 est.) | 509 |
| Major fields: |
United Kingdom - recent news
| 14 May 24 |
UK: Salamander Offshore Wind Farm submits offshore consent application |
| 14 May 24 |
UK: Union Jack Oil declares dividend AIM-listed Union Jack Oil, a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, has announced the details of a dividend payable to shareholders. The financial position of Union Jack remains strong, especially with the additional revenues from the Company’s assets in the USA. The Board has declared a dividend of 0.25 pence per ordinary share. |
| 13 May 24 |
UK: European Power systems extends support contract for Harbour Energy in UK North Sea European Power Systems (EPS) has signed a Master Service Agreement (MSA) with Harbour Energy, for the controls systems on a fleet of light industrial gas turbines on the operator’s North Everest, Lomond and Judy platforms in the UK North Sea. The agreement extends and expands on a previous agreement between the two companies, which covered North Everest and Lomond. |
| 13 May 24 |
UK: Jersey Oil & Gas announces final results for the year ended 31 December 2023 AIM-listed Jersey Oil & Gas, an independent upstream oil and gas company focused on the UK Continental Shelf region of the North Sea, has announced its audited financial results for the year ended 31 December 2023. Successful completion of two significant Greater Buchan Area farm-out transactions ensured the Company delivered on its core strategic objectives during 2023. |
| 13 May 24 |
UK: C-Capture launches innovative carbon capture trial for cement industry C-Capture, developers of next generation technology for carbon dioxide removal, has launched a new carbon capture trial in the cement manufacturing sector in partnership with Heidelberg Materials. |
United Kingdom - more news
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