Rising costs of carbon allowances could hit offshore oil and gas

UK offshore oil and gas operations, which operate off the grid, brace for big hikes following carbon pricing reforms

Semi Submersible Oil Rig at Cromarty Firth in Invergordon, Scotland. Photograph: Suwatpo/123RF
The semi-submersible oil rig at Cromarty Firth in Invergordon, Scotland. Photograph: Suwatpo/123RF

Compliance costs for carbon allowances could cost the UK offshore oil and gas sector as much as £160m by 2030, according to trade body Oil&GasUK.

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