North Sea oil operators delay projects due to election uncertainty

Thursday, 6 June 2024

Viaro CEO, Francesco Mazzagatti, speaks to Energy Voice about how political uncertainty is impacting upcoming projects in the UK oil and gas sector. He said, “The general election and Labour pledges around no new oil and gas licences are making it very challenging for producers to approach North Sea investments strategically.

“With the four changes that the Conservatives made to the EPL tax in a couple of years, and with Labour’s announced plans around the sector, there is a distinct lack of plannability and predictability that are required to carry out projects successfully and without delays.”