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Press Release22nd Mar 2022

OEUK calls for fiscal predictability ahead of the Chancellor’s Spring Statement

Offshore Energies UK, the leading trade body for the UK’s integrating offshore energy industry has called on Chancellor Rishi Sunak to ensure fiscal predictability for the industry ahead of his Spring Statement.

Commenting, OEUK CEO Deirdre Michie OBE said:


“The UK offshore industry is proud to power the nation, lighting homes, schools and hospitals, employing almost 200,000 people across the whole of the UK, and contributing hundreds of billions of pounds to the exchequer over five decades.

“Ahead of the Chancellor’s statement, we continue to make the case for fiscal predictability that ensures industry attracts investment, supports energy security and accelerates net zero.

“Our industry needs long term confidence in the UK, allowing us to make major investment decisions in both oil and gas production and the new low carbon technologies including Carbon Capture and Storage, Hydrogen and Offshore Wind.”

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