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Ashurst Comment: Brexit Technical Notice - Oil and Gas

Posted by OilVoice Press - OilVoice

14-Sep-2018


The UK Government has today published the second tranche of technical notes, outlining the government's preparations for a no-deal Brexit. Commenting on the technical notice on how oil and gas energy businesses would be affected if the UK leaves the EU with no deal, Julia Derrick, oil and gas partners at law firm Ashurst said:

"For companies involved in the upstream sector, it is reassuring to have clarity that, in the event of a "no deal" outcome, the licensing and environmental regime relevant to upstream industry in the UK will remain broadly the same and that no action needs to be taken by UK or EU companies.  However, as emphasised in Oil and Gas UK's Economic Report published earlier this week, a "no deal" scenario could have negative economic consequences for the upstream oil and gas industry, in terms of issues such as increased costs of trading and difficulties in accessing markets and labour."

AshurstBrexitUnited Kingdomo&gOilgasAbraxas Petroleum

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