How comes the UK imports oil but also exports it?

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edufly
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I can't think why we export our north sea reserves but are so desperate on imports from the middle east etc ???
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tis_me_lord
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Profit.
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Fly By
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(Original post by eddiedaboss)
I can't think why we export our north sea reserves but are so desperate on imports from the middle east etc ???
dunno, but probably works on the same concept as borrowing money but also lending money to other countries.
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Juwel
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Funny that, my mate asked me exactly the same thing. I tried to explain it but since I'm useless on exchange rates and trade and stuff I couldn't.
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Fly By
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(Original post by eddiedaboss)
I can't think why we export our north sea reserves but are so desperate on imports from the middle east etc ???
think also becoz the main producers only produce a certain amount of oil (in barrels i think) so those countries who dont have enough can buy from us, for a hihger price obviously
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Fluffy
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It's becuase North Sea oil isn't the correct 'mix' for use as a fuel - we need to mix it with oil from elsewhere to generate a petrol...
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wiwarin_mir
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(Original post by eddiedaboss)
I can't think why we export our north sea reserves but are so desperate on imports from the middle east etc ???
because we export some oil derivitives.
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BazTheMoney
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(Original post by eddiedaboss)
I can't think why we export our north sea reserves but are so desperate on imports from the middle east etc ???
North sea oil isn't useful for us really, it can't be used to make petrol; there's also economics reasons for trading with OPEC.
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IZZY!
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(Original post by eddiedaboss)
I can't think why we export our north sea reserves but are so desperate on imports from the middle east etc ???
i fink there is not enough oil in north sea, which can be easily extracted. It is deep in the ocean. To extract this oil new expensive technologies r needed. These would be expensive and consequently will higher the price of the oil.

The second reason maybe, that UK keeps North oil safe, as USA keeps its oil safe. Maybe they r going to use their own reserves wen OPEC countries run out of oil or stop exporting oil To uk or Usa
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babyballerina
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(Original post by Fluffy)
It's becuase North Sea oil isn't the correct 'mix' for use as a fuel - we need to mix it with oil from elsewhere to generate a petrol...
Spot on. I know this because I am from Teesside and got to go on 'educational' trips to industry, including some oil companies. Some of the oil comes up out of a pipe at Teesmouth and there are tankers lined up out at sea, along the skyline as far as one can see, waiting to come in and load up.
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