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
| 04 Nov 25 |
UK: Centrica completes investment in Sizewell C Centrica has announced the completion of its acquisition of a 15% equity stake in Sizewell C1 following financial close and revenue commencement. As part of completion, Centrica has made an initial investment of £376 million into Sizewell C. |
| 04 Nov 25 |
UK: Finder Energy farms out North Sea Production Licence P2530 to Serica Energy - update Finder Energy Holdings has announced the signing of a farmout agreement to assign a 40% interest in Seaward Production Licence P2530 to Serica Energy (UK). Finder will retain a 20% interest in, and operatorship of, the Licence, which contains the Wagtail Discovery (19 MMbbl Gross 2C Contingent Resources) and the low-risk Marsh and Bancroft exploration prospects. |
| 04 Nov 25 |
UK: Serica Energy announces farm-in to UK North Sea P2530 Licence Serica has reached agreement with Finder Energy for a 40% interest in the P2530 Licence, for an initial consideration of c.£500,000 (c.$650,000). The Licence is currently held by Finder Energy (60% operated interest) and Dana Petroleum (40% interest). |
| 03 Nov 25 |
Odfjell Technology extends Master Service Agreement for additional 2-years with Serica Odfjell Technology (UK) has confirmed a two-year extension to its Master Service Agreement with Serica Energy (UK). This continued collaboration highlights the strong relationship and ongoing commitment to delivering high-quality campaign support and maintenance services in the energy sector. |
| 03 Nov 25 |
UK: Angus Energy announces third quarter 2025 production, operations, corporate and finance update Production from the Saltfleetby Field in the Third Quarter of 2025 was 374 million standard cubic feet of natural gas and 6,519 barrels of gas condensate. Gas sales of 4.16 million therms were achieved in the Quarter from the Saltfleetby Field. Legacy Hedges have rolled off, and Company recorded a hedging profit of £0.152m in the quarter. |
United Kingdom - more news
Other countries in this region
- Afghanistan,
- Albania,
- Armenia,
- Austria,
- Azerbaijan,
- Belarus,
- Belgium,
- Bosnia and Herzegovina,
- Bulgaria,
- Croatia,
- Cyprus,
- Czech Republic,
- Denmark,
- Estonia,
- Faroe Islands,
- Finland,
- France,
- Georgia,
- Germany,
- Greece,
- Greenland,
- Hungary,
- Iceland,
- Ireland,
- Italy,
- Kazakhstan,
- Kyrgyzstan,
- Latvia,
- Lithuania,
- Luxembourg,
- Malta,
- Moldova,
- Montenegro,
- Netherlands,
- Norway,
- Poland,
- Portugal,
- Romania,
- Russia,
- Serbia,
- Slovakia,
- Slovenia,
- Spain,
- Sweden,
- Switzerland,
- Tajikistan,
- Tatarstan,
- Turkey,
- Turkmenistan,
- Ukraine,
- Uzbekistan
