The UK’s goal to maximize oil and gas recovery from the North Sea will harm the country’s Paris Agreement climate goals, a new report by climate campaign groups showed on Wednesday. The UK’s petroleum reserves remain at a significant level, with overall remaining recoverable reserves and resources ranging from 10 to 20 billion barrels plus of oil equivalent, according to the UK Oil and Gas Authority (OGA). Currently proven and probable reserves on the UK Continental Shelf (UKCS) can sustain production for another 20 years. The UKCS yielded 20 percent more oil and gas in the last five years after 14 consecutive years of production declines, the industry’s association, Oil and Gas UK, said in its latest annual Business Outlook earlier this year. The UK and Scottish governments, together with oil and gas industry associations, aim to find, develop, and operate reserves that could add a generation of productive […]