photo by Terry Cavner
According to the Oil and Gas Production Statistics 2016-17, the approximate sales value increased by 15.2%. Production accounted for 82% of the UK total. The Scottish Government’s Energy Task Force has surely played some part in this. See this from the minister:
‘The Scottish Government will continue to do everything within our powers to support the industry and its workforce, while calling on the UK Government to improve the fiscal and regulatory regime to encourage on-going investment to support jobs and export led growth.’
As expected, this confirms the one-of nature of 2015/2016 when the North Sea allegedly made a loss though, of course, this was more a consequence of the UK government’s failure to tax the producers. See this:
Re-post: A ploy to undermine the case for Scottish independence as Oil companies making more at $50 per barrel than they did at £100 per barrel yet the UK Government is not taxing them.