OGUK Reacts to Brexit Deal

Industry body Oil & Gas UK (OGUK) has welcomed the new trade deal between the UK and the European Union, which has now become law.

Commenting on the deal, OGUK noted that, as the detail of the agreement is worked through, it is important that any friction and red tape is kept to a minimum while ensuring the deal reinforces the opportunity to pursue an exciting energy future.

“OGUK has consistently stated that a deal would be the best outcome for our industry,” OGUK Chief Executive Deirdre Michie said in an organization statement. 

“We therefore welcome the agreement and thank both the UK and EU for their efforts in securing this trade deal,” Michie added. 

“We continue to work through the details with our members, the government, and the broader business community to ensure that every opportunity is taken to minimize and manage any potential disruption to goods and services in the energy sector, as well as limiting inefficiencies and red tape as changes are implemented,” the OGUK chief went on to say.

Michie also noted that OGUK looks forward to progressing the North Sea Transition Deal in the new year, which it highlighted was supported in the government’s recently published Energy White Paper.

“Through making the most of our domestic resources and putting our essential expertise to work, we can continue to provide jobs and opportunities in energy communities across the UK, while providing the affordable and lower carbon energy needed by millions across the country,” Michie said.

After voting to leave the EU in 2016, the UK and EU agreed a new trade deal on December 24. The deal has now been approved by the UK and EU member states.

In a televised address on December 24, UK Prime Minister Boris Johnson said, “I am very pleased that this afternoon that we have completed the biggest trade deal yet, worth GBP 660 billion ($902 billion)”.

“A comprehensive Canada style free trade deal between the UK and the EU, a deal that will protect jobs across this country,” he added. “A deal that will allow UK goods and components to be sold without tariffs and without quotas in the EU market,” Johnson continued.

On the same day, Ursula von der Leyen, the President of the European Commission, said, “we have, finally, found an agreement”.

“It was a long and winding road. But we have got a good deal to show for it. It is fair and balanced. And it is the right and responsible thing to do for both sides,” von der Leyen added.

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