In Energy Voice yesterday:
‘New figures have been published by the Scottish Government showing a boost in sales for 2017-18, although production has dipped. The sales value is up by from £16.9bn in 2016-17 thanks to higher oil prices. Scotland accounted for 81% of the overall UK total, down from 82% the previous year. The majority of crude oil production took place in Scotland, meaning Scottish production of sales income was higher than the production 81% share, as crude oil is more expensive than gas.’
As you know from BBC Scotland, this is bad news for Scotland’s economy. Other reports of bad news, reported here, include:
North Sea expected to produce much more oil and revenue than expected
Scottish crude oil value surges to record level in more than 3 years
A fifth prediction of oil rising to $100 per barrel for Scottish oil, suggests pre-tax revenue of around $1 trillion!
As Scottish oil industry booms, Aberdeen contractors more confident but Scottish media pay little attention.
As oil prices soar and exploration increases, employment in Scotland’s oil industry returns to record levels
A wealthy independent Scotland? Nearly $300 billion in new oil revenue to be unlocked in latest offshore licensing round.
According to Bank of America, oil prices could hit $100 a barrel next year but all of Scotland’s ‘business correspondents’ miss the news again and for the fourth time in a year.
Scottish oil surging back toward £100 per barrel and massive Treasury revenue?
Oil prices to rise to $70 per barrel this summer as two new fields are discovered in last two weeks
Another major oil-find in Scottish sector of North Sea
Multi-million-barrel oil discovery in North Sea
Yesterday, GMS and the various bulletins led on the fall in output, adding only later in the bulletin that revenues had increased due rising world oil prices. It made no mention that all of these revenues went mostly to private companies.
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