In the latest in a series of meetings with political leaders, Oil & Gas UK (OGUK) met Scottish Conservative leader Ruth Davidson and Tory general-election candidate Alexander Burnett in Aberdeen yesterday.
The trade association said it highlighted “the important role the offshore oil and gas industry plays in both the Scottish and national economics” as well as “the need for urgent fiscal and regulatory reform alongside industry action to improve cost efficiency”.
OGUK economics and commercial director Mike Tholen said: “There has never been a more important time to debate the state of the industry view with government parties – less than a week prior to the chancellor’s upcoming Budget and in the present environment of high costs, inappropriate regulation and a tax burden of between 60% and 80%, issues which have been compounded by the recent collapse in oil prices.
“Today’s was a good meeting, where we enjoyed a positive discussion…on progress towards regulatory reform, the actions being taken by industry to reduce its costs and the urgency with which significant change to the tax regime is required.
“Across all major political parties, there seems to be an understanding that action is required in order to sustain investment in the UK continental shelf.”
Read more oil and gas news here.
Recommended for you
