The Treasury’s plan to reform the oil and gas fiscal regime is an interesting and encouraging document, which recognises the importance of the industry, while at the same time acknowledging the need to be more competitive in attracting and promoting capital investment in the UKCS.
It has the hallmarks of collaboration, with the Treasury accepting that they must adjust their thinking as to tax receipts from the UKCS, and it is the first time in recent memory, committed to black and white, that ‘we are all in this together’.
The Treasury does not publish a document of this importance without it having being very carefully vetted.
There are three things wrong with the UK Parliament's approach to the oil industry.
Firstly, there is no gratitude whatsoever. Over the last 40 years more than £330,000million has poured into the Westminster Exchequer, around £60,000 per head for every Scot.
Scotland's resources have bankrolled successive Tory and Labour Chancellors.
They present any crumb of a concession as if it were a gift.
A former Scottish political leader has been defeated in his fifth attempt to win approval for a controversial windfarm in Aberdeenshire.
Councillors have upheld the decision to throw out Lord Nicol Stephen’s plans to erect two masts near Blackhills Farm at Cushnie.
Campaigners said they hoped the verdict would convince the one-time deputy first minister to finally drop the proposals for the site.
Lord Smith of Kelvin, chair of the Smith Commission on Scottish Devolution, will appear before Holyrood’s newly-convened Devolution (Further Powers) Committee.
His report recommended the UK government would remain in charge of licensing for all offshore oil and gas extraction under the proposals but Holyrood could get the power to determine if fracking goes ahead in Scotland.
Energy giant SSE’s electricity network supports almost 2,000 jobs across the north of Scotland and is expected to have contributed £287million to the economy by the end of this year, research has revealed.
The Perth-based firm, which manages 77,000 miles of overhead lines and underground cables across the north of Scotland and through its network in the south of England, added that it has invested £126million this year in the Scottish network to increase its resilience.
Through its subsidiary, Scottish Hydro Electric Power Distribution (SHEPD), SSE operates its electricity distribution network from John O’Groats through Perth and Dundee, as well as 89 Scottish islands, according to the report by Big Four accountancy firm, PwC.
Amid the growing need for skilled workers in the engineering industry, Shell has confirmed its investment in a programme aimed to inspire the next generation.
Tomorrow's Engineers, run by Engineering UK, aims to tackle the skills crisis by encouraging and inspiring more students to study, and pursue, a career in science, technology, engineering or maths.
