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Union Jack Oil

UK government says fuel supplies secure in no-deal Brexit

The U.K.’s supply of oil and refined fuels will not be put at risk if the country crashes out of the European Union without a deal, the government said.

“The U.K. can draw on both substantial domestic production and oil imports from diverse international sources, including Europe, meaning that supply is secure,” the government wrote in a report published on Tuesday.

The U.K. is stepping up preparations for a no-deal Brexit at the end of this month as the chances of reaching an agreement with the EU look increasingly unlikely.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.