There have been a surprising number of reports in recent weeks on future government revenues from UK oil and gas production. The authors include the UK Treasury and Office for Budget Responsibility (OBR), the Scottish Government, Oil & Gas UK and academics from Glasgow University.
Hopes of a new boom in the North Sea oil and gas industry in coming years could be dashed after official forecasts for the sector were slashed.
A senior UK Government minister has warned that an independent Scotland would have to rely heavily on a “volatile” source of revenue with oil and gas.
A forecast long-term downturn in oil and gas revenues is undermined by new investment off Shetland, a North-east MSP claimed yesterday.
A fresh political row has erupted over the role of North Sea oil and gas in an independent Scotland after the revenues forecast for the next 30 years were halved.
THE prime minister has been criticised at Holyrood for making "disparaging comments" about Scots who want oil and gas revenues to stay north of the border.
The Scottish Government's bid to set up an oil fund has come too late in the life of the North Sea, an industry expert said last night.