Sea of possibilities
Collaboration will be the key to maximising the North Sea's remaining potential
After decades of prosperity, oil and gas production is in decline in the North Sea and reserves will be depleted within a decade, according to a new report by Edinburgh University. This is despite a recent discovery by Statoil of around 25m recoverable barrels of oil close to the Scottish coast. It's not all doom and gloom however. The North Sea Opportunity, a report published by the Netherlands Committee of the World Energy Council, highlights that there are opportunities to cut the costs of decommissioning and even open up new markets including wind and biomass. "Oil and gas will continue to be an important source of energy for the foreseeable future," said Dr Uwe Franke, Chairman of the G
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
