Tuesday October 03, 2006

UK to be permanent net oil importer in 2007

peakoil.com -> cattlenetwork.com :

The U.K. is set to become a permanent net importer of crude oil and refined products in 2007 - three years earlier than the U.K.'s Department of Trade and Industry expects, according to the UK-based Oil Depletion Analysis Centre.

Depletion rates of the U.K.'s oil and gas reserves in the North Sea are occurring faster than expected and production coming onstream in the next few years from new fields won't be enough to compensate, said ODAC director Douglas Low.

See also :

1. UK oil production continues to decline
2. North Sea gas drying up faster than hoped
3. British economic growth rate slumps to 12-year low

(2006-10-03 13:24:17 SGT) [Energy] Permalink

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