Escalating tensions in the Middle East and the ongoing risk of disruption to shipping through the Strait of Hormuz are once again highlighting the fragility of global energy supply chains. With a significant share of the world’s oil and LNG passing through this narrow corridor, geopolitical instability is already feeding into price volatility and renewed concerns around energy security.

Against this backdrop, questions are intensifying about the UK’s resilience and the role that domestic energy production must play in supporting industrial capability and reducing reliance on imports.

At the same time, the UK’s fiscal framework for the sector remains in flux. The Energy Profits Levy continues to shape investment decisions in the North Sea, while plans for a new Oil and Gas Price Mechanism point to a shift towards a more conditional approach to windfall taxation. For industry, the challenge is navigating this uncertainty while sustaining investment in domestic supply.

This discussion will explore how homegrown energy can reduce import reliance, support investment and strengthen the UK’s economic and industrial resilience.

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Image credit: Image from Freepik