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
| 19 Dec 25 |
UK: Masdar completes first project in £1 billion UK Battery Storage Investment and announces new projects in pipeline Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, today announced the start of commercial operations at its battery energy storage system (BESS) facility in Stockport; the first project to be completed under Masdar’s £1 billion commitment to invest in UK battery energy storage. |
| 19 Dec 25 |
UK: ABP and ScottishPower Renewables sign landmark agreement to support offshore wind operations from Port of Lowestoft Associated British Ports (ABP), the UK’s leading port operator, has announced a long-term partnership with ScottishPower Renewables (SPR) to support operations and maintenance (O&M) activities for the East Anglia TWO (EA2) and East Anglia THREE (EA3) offshore wind farms from the UK’s most easterly port, where ABP has recently completed the Lowestoft Eastern Energy Facility (LEEF). |
| 19 Dec 25 |
UK: SSEN Transmission signs £1bn Bank Facility backed by the National Wealth Fund SSEN Transmission, 75% owned by the electricity infrastructure company SSE plc, has announced a £1bn,12-year bank facility backed by an £800m financial guarantee from the UK Government's National Wealth Fund which will support four major grid upgrade projects under way in the north of Scotland. |
| 19 Dec 25 |
UK: Angus Energy announces Saltfleetby Gas Field workover In line with the Company's previously announced production enhancement strategy, Angus Energy has announced the commencement of a planned workover programme at the Saltfleetby Gas Field. |
| 19 Dec 25 |
Norway: Odfjell Drilling signs contract with Equinor for the Deepsea Aberdeen Odfjell Drilling has announced that a Letter of Intent for use of the Deepsea Aberdeen has now been signed with Equinor for use of the unit to drill an unspecified scope in an interim period on the Norwegian Continental Shelf, before moving to the Fram Sør project, offshore Norway. |
United Kingdom - more news
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