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

27 May 24
UK: New North Star vessel bound for East Anglia THREE windfarm
?North Star has secured a contract with Siemens Gamesa to build a hybrid service operations vessel (SOV) bound for long-term charter at the East Anglia THREE offshore windfarm development located off the Suffolk coast, England.
27 May 24
UK/Germany: NZTC report sets out plan for green hydrogen export between Scotland and Germany
UK-based Net Zero Technology Centre (NZTC) and German-based Cruh21 have launched a report that will help unlock the full potential of a green hydrogen collaboration between Scotland and Germany.
24 May 24
UK: Offshore Energies UK endorses call for more support for homegrown energy industry
Offshore Energies UK has endorsed the findings of Delivering Our Energy Future, a new report by Robert Gordon University (RGU) calling for urgent alignment across the political spectrum to sustain thousands of UK offshore energy industry jobs, supply chain investments and the economic contribution of the workforce.
24 May 24
UK: Union Jack Oil reports positive conclusions of a Carbon Intensity Study on the West Newton gas development
Union Jack Oil, a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, has published the positive conclusions of a Carbon Intensity Study on the West Newton gas development, located within PEDL183 onshore UK in East Yorkshire. The West Newton project has an AA rating for Carbon Intensity for its potential upstream gas and condensate production.
23 May 24
UK: Carbon Storage levy: Call for evidence response - NSTA
The North Sea Transition Authority (NSTA) ran a call for evidence between 4 December 2023 and 26 January 2024 on the potential principles, design and timing of a possible future levy on UK carbon storage licences. After reviewing the submissions to the call for evidence, the NSTA has published a response, stating that it intends, unless there are major external developments, to introduce a carbon storage levy in the future, once the CCS industry is on a more self-sustaining footing.

United Kingdom - more news

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