The domestic oil and gas industry is looking at Budget 2023 for some relief as the upheaval in the global crude prices due to the Russia-Ukraine war led to huge losses.
The UK North Sea still has a lot to offer when it comes to oil and gas reserves yet to be produced. However, unpredictable fiscal conditions are denting the confidence of offshore energy-producing companies to invest and revitalize oil and gas exploration activity, Offshore Energies UK said in a report on Tuesday.