Serica Energy Urges UK to Boost Domestic Oil Production
Glasgow News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Serica Energy urges UK government to revamp North Sea strategy, proposing a four-point plan to enhance domestic oil and gas production. This appeal comes as energy prices soar due to Middle East conflict, with Brent crude surging from $60 to $118 per barrel. Sericas profits halved to $80 million last year, impacted by Triton hub outages. Public demand for UK to utilize its resources grows, with Sericas CEO noting increased cash flow from higher prices. The company plans to boost production to 65,000 barrels of oil equivalent per day by 2026 through strategic acquisitions and partnerships, aiming to bolster UK energy security amid global disruptions.
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