Europe / Caspian / CIS

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Summary | Profile

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

17 Jun 19
UK: Union Jack Oil reports successful result at West Newton A-2 appraisal well
JV partner Union Jack Oil has announced positive preliminary results in respect of the recently drilled West Newton A-2 conventional appraisal well, located within PEDL 183 and operated by Rathlin Energy (UK).
16 Jun 19
UK: Greenpeace activists try to board oil rig at sea
Greenpeace activists have made another attempt to board a drilling rig being towed in the North Sea. The rig was heading for an oil field east of Aberdeen after protesters delayed its departure from the Cromarty Firth for six days last week.
14 Jun 19
UK: Maersk Innovator awarded one well extension for Buzzard field infill drilling
Maersk Drilling has announced that CNOOC Petroleum Europe, a wholly-owned subsidiary of CNOOC Limited, has exercised a one-well option for the Mærsk Innovator jack-up rig to continue drilling infill wells at the Buzzard field on the UK Continental Shelf.
13 Jun 19
UK: Industry can be an essential partner to UK climate ambitions - OGUK
Speaking in response to the Prime Minister’s commitment to deliver net zero emissions by 2050, OGUK Chief Executive Deirdre Michie set out the role industry can play to enable the energy systems of the future and to help the development of technology that can mitigate carbon from other heavy emitting industries.
11 Jun 19
UK: Well-Safe Solutions secures landmark contract for North Sea decommissioning project
Well-Safe Solutions has announced the award of a major contract by DNO to decommission up to twenty-one wells on the Schooner and Ketch fields, located in the UK Southern North Sea, which ceased production in August 2018.

United Kingdom - more news

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