I’ve already reported on the massive finds west of Shetland and the current fast growing demand for Asia for heavy-grade North Sea oil which has caused record flows of oil tankers in recent months. In April alone, North Sea tankers have taken more than 16 million barrels to Asia. Once more the income will be flooding into the UK Treasury. We need to move fast to keep some of this for Scotland’s future.
Estimates of Scotland’s oil reserves West of Shetland now massively increased to around 8 billion barrels! ‘A super-resource now on the cards.’
Now Chinese-owned Nexen have plans to drill an exploration well west of Shetland in the coming weeks. Nexen, which is owned by China National Offshore Oil Corporation claims to have serious growth plans.