OEUK says it will work with UK government to phase out Russian oil

March 9, 2022
Time period designed to allow British industries to adjust supply chains.

Offshore staff

LONDON – Trade association Offshore Energies UK (OEUK) says that it is committed to working with the government to phase out Russian oil imports by the end of the year.

As reported by the London-based business newspaper City A.M., OEUK Business Secretary Kwasi Kwarteng said that the time period was key to allow UK industries time to adjust supply chains, with the country dependent on Russia for around eight per cent of its oil imports.

The UK government has announced that it will work with companies with a new task-force on oil to support businesses looking for alternative supplies.

OEUK also restated its commitment to the government’s net zero emission targets and plans through the North Sea transition deal that will help accelerate the UK’s move to cleaner energies.

Deirdre Michie OBE, CEO of Offshore Energies UK, was quoted to say: “The UK has diverse, secure, and reliance energy sources with the majority of it coming from domestic production and pipelined supply from Norway. We continue to work with the government and our members to see how we can build on this reliable energy base while continue to rapidly accelerate the transition to cleaner energies. We will consider these proposals in more detail in the coming days and stand ready to work with government as we provide the skills, capabilities and infrastructure required to deliver the UK’s energy ambitions.”