The UK’s oil and gas industry plans to become a net zero oil and gas basin in terms of own production emissions by 2050, as the UK North Sea operators support the government’s commitment to cut greenhouse gas emissions to net zero by 2050, Deirdre Michie, the chief executive of the OGUK industry association, said on Thursday. In June last year, the UK became the first major economy in the world to enshrine in a law its target to reduce its greenhouse gas emissions to net zero by 2050. Since then, the UK oil and gas industry, via its industry body OGUK, has pledged that it would work toward the UK and Scottish government goals to cut emissions and seize opportunities presented by the hydrogen economy and Carbon Capture Utilization and Storage (CCUS). Today, OGUK’s chief executive Michie said in a speech in Edinburgh, Scotland, that the UK offshore […]