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

13 Aug 26	UK: New report reveals North Sea revenue drop off as firms flee EPL New data from the Government Expenditure and Revenue Scotland (Gers) report has revealed revenue from the North Sea has fallen £1.6billion in the space of two years. The figures show North Sea revenue has dropped off sharply from close to £5.5billion in 2023-24, to just under £4.5billion in 2024-25, and most recently to £3.9 billion in 2025-26.
13 Aug 26	UK: Reinstated wells produced 16 million boe in 2025 North Sea operators produced an extra 16 million barrels of oil from 56 reinstated wells in 2025 as they focused on well interventions which boosted production and efficiency. The success of this campaign has been supported by a significant improvement in intervention efficiency, with the cost per barrel of oil equivalent added decreasing from £9.60/boe in 2024 to £7.60/boe in 2025. A total of 398 well interventions were carried out in the year.
13 Aug 26	UK: Leading North Sea operators back NSTA well decommissioning charter North Sea operators have pledged to support an initiative to help them meet their well decommissioning obligations, boost the supply chain and potentially deliver significant savings for industry and taxpayers. The North Sea Transition Authority (NSTA) and 17 operators have signed a charter with a set of guiding principles, including working collaboratively to develop a smoother approach to wellhead removals.
12 Aug 26	UK: OnPath Energy starts construction work at 50MW UK solar site The development of a new South Yorkshire solar energy and battery storage project has reached its latest landmark with the start of construction work on the site. Leading renewables developer OnPath Energy is building the Common Farm Solar Park close to the Todwick Road Industrial Estate in Dinnington.
12 Aug 26	UK: North-east households in line for £2,500 energy bill discount for hosting pylons Thousands of households living close to major electricity grid projects in the North-east could receive £2,500 off their energy bills under a new UK Government scheme. Homes within 500 metres of eligible new or upgraded transmission infrastructure are expected to receive discounts worth £250 a year for 10 years, with the first payments due to begin next year.