GLOSSARY: Brexit

brexit refers to the withdrawal of the United Kingdom from the European Union which is scheduled to take effect on 29 March 2019. The government has taken steps to provide notices covering a number of UK industries, including oil and gas. The plainly-titled ‘Running an oil or gas business if there’s no Brexit deal’ notice covers issues of oil and gas licensing, environmental protection, and oil stocking. This document also includes an in-depth list of sources and further legislation that may be of interest to worried oil company executives looking for some reassurance around Brexit.