Tag Archives: north sea oil

Review of North Sea oil and gas

Ed Davey, Secretary of State for Energy and Climate Change, has launched a review of the North Sea oil and gas industry, headed by Sir Ian Wood.

In the Financial Times, Ed Davey is quoted as saying:

I expect it to say tough things to industry, as well as be supportive, and say tough things to government as well. Our offshore infrastructure is getting older, and we are seeing a decline in the rate of exploration and in the amount of oil and gas that is being recovered.

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Willie Rennie on Newsnight Scotland: You have to be cautious when you predict oil revenues

There’s been a bit of a stooshie over future North Sea oil revenues in the last week or so. First, as the BBC tells us, a leaked draft of a Scottish Government report said that volatility in projecting revenues created uncertainty and could lead to spending cuts. Now, Alex Salmond tells us that it’ll all be fine and there’ll be a great big oil boom just as Scotland becomes independent. The SNP projections for the first year of independence are pretty much double what the OBR predicts.

Scottish Liberal Democrat leader Willie Rennie went on Newsnight Scotland on Monday night …

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