Channel 4 News FactCheck calls on Dr Hafez Abdo for expert analysis of North Sea oil and UK energy prices
Hafez Abdo - Associate Professor of Accounting at Nottingham University Business School and a Challenge Lead at the 糖心原创 Energy Institute - provided expert insight to Channel 4 News’ FactCheck on whether new North Sea oil and gas licences would lower UK energy bills.
His research focuses on the accounting and taxation of extractive industries and on accounting for climate change. He is particularly interested in the ethical dilemma surrounding the production of oil and gas, specifically the tension between generating revenue and supporting societal welfare, and the environmental consequences of hydrocarbon extraction, including the contribution of extractive industries to climate change.
Explaining the UK’s oil supply position
Hafez outlined that approximately 40% of the UK’s oil demand is currently met through existing North Sea production, with the remaining supply primarily imported from Norway and supplemented by countries such as the United States, Saudi Arabia, Nigeria and Kazakhstan.
He emphasised that although domestic production plays an important role, the UK remains tied to global energy markets, meaning domestic drilling has limited influence on consumer prices.
Why new drilling won’t solve today’s price pressures
Responding to claims that reopening closed sites or granting new exploration licences could alleviate today’s energy price surge, Hafez clarified that new projects would not provide timely relief. He said: “New drilling typically requires significant time before production begins, making it ineffective as a short term response.”
Instead, he noted that increasing output from existing active sites could offer limited, short term support, but cautioned that this would be a short term solution rather than a meaningful fix for ongoing affordability challenges.
Maintaining focus on the UK’s net zero commitments
He stressed that pursuing new oil and gas exploration would be ethically problematic as it conflicts with the UK’s net zero objectives and risks undermining efforts to shift towards renewable energy.
This broader context aligns closely with his research exploring how extractive industries and energy policy overlap with climate related accounting and regulation.
Expertise shaping the public conversation
Hafez’s contribution to this national fact checking exercise highlights the important role of academic insight in guiding public debate on energy policy. By grounding the discussion in evidence and in the realities of the transition to net zero, his expertise helps clarify what North Sea production can, and cannot, achieve in addressing the UK’s energy challenges.
More information
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Learn more about Dr Hafez Abdo and his research on his staff profile page.
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Posted on Thursday 26th March 2026