OEUK says the North Sea could supply half of the UK's oil and gas by 2050, needing government backing.

Offshore Energies UK (OEUK) reports that the North Sea could supply half of the UK's oil and gas needs by 2050, potentially adding £150 billion to the economy. However, this would require government approval for new projects. Currently, the UK is only on track to produce four billion of the 13-15 billion barrels needed. OEUK argues that domestic production is crucial for energy security, while the government focuses on reducing emissions and achieving net-zero by 2050.