Bloomberg News

U.K. Oil, Gas Industry Employs 440,000, Meets 90% of Oil Demand

October 11, 2011

Oct. 11 (Bloomberg) -- The U.K. oil and gas industry employs about 440,000 people with production valued at 32 billion pounds in 2010, according to a report by industry body Oil & Gas U.K.

The report shows that more than 40 billion barrels of oil and gas equivalent have been extracted from the U.K. continental shelf as a result of 468 billion pounds of investment over the past 40 years.

The U.K. produced an average 2.2 million barrels of oil and gas per day in 2010, meeting about 90 percent of the country’s oil demand and 60 percent of its need for gas, Oil & Gas U.K. said in an e-mailed statement today.

To contact the editor responsible for this story: Tim Farrand at tfarrand@bloomberg.net


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