UK hikes oil & gas output in 2015

UK’s Department of Energy and Climate Change (DECC) on Thursday released its December 2015 energy statistics according to which production of crude oil & NGLs and gas rose by 12.8% and 8.5%, respectively. 

According to DECC, primary energy production rose by 9.0 per cent on a year earlier to 123.1 million tonnes of oil equivalent. This increase, the first since 1999, was due to rises in oil and gas output, DECC said.

 

Crude oil and petroleum products

 

In 2015, UK production of crude oil & natural gas liquids (NGLs) rose by 12.8 per cent, the first significant increase since 1999, due to the start-up of new fields and less maintenance activity. Since 2005 output has fallen by around 6 per cent per year. Imports marginally exceeded UK production, whilst exports rose reflecting increased production volumes.

In 2015, the UK remained a net importer of petroleum products at 9.1 million tonnes, up from 6.3 million tonnes in 2014, driven by higher import volumes.

 

Gas

 

In 2015, UK production of gas rose by 8.5 per cent, the first significant increase since 2000, due to the start-up of the Breagh and Jasmine fields and less maintenance activity. Since 2005 output of gas has fallen by around 8 per cent per year. Imports of gas again exceeded UK production.

In 2015 physical flows of imports were up by 4.3 per cent. LNG (Liquefied Natural Gas) imports were up 21 per cent, with Qatar accounting for 92 per cent of LNG imports. Norway though remained the key source of imports accounting for 61 per cent, with LNG up to a 31 per cent share. Exports increased sharply, up 34 per cent, with significant growth in shipments to mainland Europe via the Belgian interconnector.

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Posted on February 25, 2016 with tags .

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