Should the UK take control of North Sea oil and gas extraction contracts and establish a national supplier of petroleum products – and drop petrol prices by 80 per cent?
‘Stupid is as stupid does’ and the UK government is criminally stupid.
From Brave AI;
‘Analysts from Wood Mackenzie estimate the North Sea holds up to 14 billion barrels of recoverable oil and gas in existing fields, a figure more than three times the 4 billion barrels estimated by the government’s North Sea Transition Authority (NSTA).
This discrepancy arises because Wood Mackenzie’s AI-powered analysis suggests that if UK fields matched global “best-in-class” recovery factors, an additional 18% of oil could be extracted, potentially adding 14 billion barrels to production over the lives of the largest fields.
The NSTA itself acknowledges even larger potential, estimating an additional 15 billion barrels could exist in unexplored areas outside of existing fields.
If accurate, these reserves could theoretically cover the UK’s entire fossil fuel demand during the transition to net zero by 2050, though production has declined from a peak of 243 million tonnes in 1999 to 60 million tonnes last year.
‘Despite this recovery, total demand in 2024 remained 10% below 2019 levels and 20% lower than in 2000. While domestic production fell to a record low of 31 million tonnes in 2024, the UK increased net imports by 12% to meet the growing gap, resulting in a net import of products of 13 million tonnes.
60 million tonnes produced in 2024- or 31 million tonnes -take your Brave AI answer pick, here’s another AI RESPONSE FOR UK demand.
‘UK oil demand reached 1,325,100 barrels per day in December 2024, following a 2.0% increase in total petroleum product demand compared to 2023, which was the highest annual demand since the onset of the COVID-19 pandemic.’
1.3 million barrel a day is around half a million barrels a year which equates to around 68 million tonnes.
Refining the oil;
As of March 2026, there are four operational oil refineries remaining in the UK, following the closures of the Grangemouth refinery in Scotland (April 2025) and the Lindsey refinery in Lincolnshire (August 2025).
The current operational refineries are:
Fawley (Hampshire) operated by ExxonMobil
Pembroke (Wales) operated by Valero Energy
Stanlow (Cheshire) operated by Essar Energy
Humber (North Lincolnshire) operated by Phillips 66
This represents a significant decline from the 18 refineries that operated during the 1970s, raising concerns among industry bodies about the sector’s ability to compete globally against imports and meet energy security needs.
How much does It cost to extract a barrel of oil from the North Sea?
‘The average production cost for a barrel of oil equivalent (boe) in the UK North Sea was £19.49 in 2024, rising from £18.39 in 2023 and £13.82 in 2020.
Compare that the 76-pound spot price for Brent.‘
Can the UK refine its own oil into say, petrol?
‘No, the majority of North Sea oil cannot be refined in the UK for domestic petrol production because the country’s refineries were designed to process light, low-sulphur crude (historically from Libya) rather than the heavy, high-sulphur “sour” crude currently extracted from the North Sea. ‘
Refinery Mismatch: Most UK refineries lack the specific machinery and processes required to remove the high sulphur content found in modern North Sea fields like Forties and Buzzard, forcing them to import lighter crudes (such as Norwegian) or export North Sea crude for processing abroad.
· Declining Domestic Usage: The proportion of North Sea oil used in UK refineries has plummeted from 50% in 1996 to just 7.7% in 2024, with the UK government confirming that 80% of North Sea oil is exported because domestic facilities cannot process it.
· Future Outlook: Analysis suggests that by 2035, UK refineries may be unable to process up to 50% of the oil produced in the North Sea, as the remaining reserves are increasingly heavy and difficult to refine.
While the UK remains a net exporter of refined petrol, it simultaneously imports significant volumes of petroleum products (including diesel and jet fuel) because the domestic supply chain relies heavily on imported crude oil that matches existing refinery specifications.
Needs ‘special machinery’ to remove sulphur - yet the UK exports ‘refined petrol. Go figure. How much would it cost for that ‘special machinery’ - compared to the billions of dollars for stupid windmills, solar panels and transmission infrastructure.
For’ natural gas;
‘In 2025, the North Sea produced enough natural gas to supply 47.5% of the UK’s demand, accounting for roughly 344 TWh of domestic production against a total demand of 689 TWh. This output represents 97.6% of total UK gas production, with the remaining share coming from biomethane and other minor domestic sources.
‘Stupid is as stupid does’ and Miliband is criminally stupid -as is the entire Labour government of the UK.
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Yes in double quick time. But won’t happen under this shower