Information on the Revised Oil & Gas Authority Strategy

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CCLW national policies

Energy Act 2016 - Chapter 20

Law passed

New Oil and Gas Authority Strategy comes into force

The Energy Act 2016 formally establishes the Oil and Gas Authority (OGA), sets its regulatory powers, and regulates onshore wind power. It supersedes the previous versions of the Energy Act.<br>&nbsp;<br>The OGA is set up to regulate the oil and gas sector. A new <a href="https://www.ogauthority.co.uk/news-publications/news/2021/revised-oga-strategy-comes-into-force/">strategy</a> for the OGA was laid before parliament in December 2020 and came into force in February 2021. According to the new strategy the OGA has a new dal mandate to both “secure that the maximum value of economically recoverable petroleum is recovered from the strata beneath relevant UK waters” and, in doing so, “to take appropriate steps to assist the Secretary of State in meeting the net zero target.”</div><div><br>&nbsp;The Act further amends Electricity Act 1989 to add provisions related to closure of onshore power stations and to use of Northern Ireland certificates (Part 5 of the Energy Act 2016).

Energy Act 2016

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

Any compulsory, unrequited payment to the government levied on corporations or individuals. This can be for environmental reasons, such as introducing a Carbon tax to set a price that emitters must pay for the greenhouse gases they emit.

Oil is a combustible liquid fossil fuel composed mainly of hydrocarbons, occurring as crude oil and refined into petroleum products such as petrol, diesel and kerosene.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

Information on the Revised Oil & Gas Authority Strategy

Policy instrument

Fossil fuel

Economic sector