£290 billion of tax revenue still in the North Sea and much more to the west of Shetland


From rigzone.com yesterday:

‘Industry body Oil & Gas UK has launched a blueprint outlining four key priorities the next UK Government should focus on to help secure the future of the North Sea oil and gas sector, which includes establishing steps to protect the workforce.’

The four priorities are:

1.      Establish a UK energy policy which realizes the full benefits of the UK’s indigenous resources

2.      Ensure the UK Continental Shelf (UKCS) is globally competitive for investment

  1. Ensure Brexit negotiations support, develop and promote the oil and gas industry
  2. Establish practical steps to protect, progress and promote operators, the supply chain and the industry workforce

It seems unlikely that the UK government will do anything of the sort so we must hope there’s an independent Scottish Government in place in time to do so. Further, we already know this is a conservative assessment taking no account of the likely massive boom in the seas to the West of Shetland. See these:Estimates of Scotland’s oil reserves West of Shetland now massively increased to around 8 billion barrels! ‘A super-resource now on the cards.’

More signs of massive oil expectations in Scotland’s waters west of Shetland and the Chinese market is desperate for it

The downturn is last year’s story. It’s time the story of Scotland’s affluent energy future was spread.



3 thoughts on “£290 billion of tax revenue still in the North Sea and much more to the west of Shetland

  1. Scott June 1, 2017 / 2:02 pm

    “£290 billion of tax revenue very good news but what will Scotland get a few crumbs Westminster will make sure of that.


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