Reading the BP Statistical Review of World Energy:

[http://www.bp.com/content/dam/bp/pdf/statistical-review/statistical_review_of_world_energy_2013.pdf]

One can read some incredible facts about UK Oil production.

In 2002, the UK produced 2,495,000 barrels of oil per day. Ten years on, in 2012, the UK produced 967,000 barrels of oil per day.

A steady decline over 10 years for the UK. The picture is the same for many other counties

Norway in 2002 was 3,333,000 barrels of oil per day. Ten years on, in 2012 in 2002, Norway was 1,916,000 barrels of oil per day

However other countries have grown production, such as the USA, Iran, Kuwait, Russia and Kazakhstan to name just five. It could be considered that we have past peak oil production by looking at production trends over the past decade.

With oil at about US$ 108, UK oil production per day is worth about 967,000 x $108 = $104,436,000 = £62,708,900 a day = £62 million a day.

Global oil production is 86,152,000 barrels of oil per day, thus the UK makes up 1.12% of global production, and yet the UK companies of BG Group, BP and Shell are global energy giants, that the UK is clearly punching above its UK production rate.