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July 27, 2017

The trade body for the UK offshore oil and gas industry has given its response to the Brexit, trade and the economic impacts on UK Cities report from the Centre for Economic Performance and Centre for Cities at the London School of Economics.

Deirdre Michie, Chief Executive of Oil & Gas UK, said: “We have yet to see details of this report but would welcome discussion with the authors. We commissioned our own study into the possible cost of trade, where our workforce comes from, and the potential impact and opportunities of Brexit. It found that the tariff and trade impact on oil and gas producers would likely be less severe than specific areas of the supply chain that trades goods such as chemicals and plastics internationally.

“We briefed Government on our findings and will continue to work with Government to further understand the potential impact on our sector.

“Industry has worked hard to boost productivity and reduce operating costs. While we are globally competitive, we are sensitive to extra burdens whether that be cost-related or restrictions on movement of personnel needed for critical operations. As such, Government should be aware of the tariff and non-tariff barriers which may be presented.”

 

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