Key oil, gas figures welcome Scotland’s ‘No’ Vote

Key figures involved in the UK oil and gas industry have responded positively to the “No” result in the Referendum on Scottish independence that was announced.

Just over two million people voted against independence, while 1.6 million voted for an independent Scotland, meaning that the “No” camp one the vote by 55 percent to 45 percent.

Ian Wood, Scottish oil services tycoon in a statement said that he was “pleased the Scottish people had chosen the best of both worlds” and that the UK government must now deliver on its undertakings on wider devolved responsibilities to the Scottish Parliament.

“In oil and gas, there are two very important and urgently needed initiatives underway – the Fiscal Review and the setting up of the new Regulator, the Offshore Gas Authority (OGA), a key recommendation from my Maximising Economic Recovery Review. Our industry is currently struggling with a completely unacceptable low level of exploration and a significant number of our offshore assets potentially up for sale”, he added.

Shell’s van Beurden, Royal Dutch Shell CEO said that the result reduces the operating uncertainty for businesses based in Scotland adding that “Shell will continue to work closely with both the UK and Scottish governments to help the industry deliver vital energy supplies through investment in the UK’s oil and gas resources. We look forward to continuing our proud association with Scotland.”

Malcolm Webb, Oil & Gas UK Chief Executive said: “The Referendum campaign rightly revealed the important role the offshore oil and gas industry plays in our economy, both in Scotland and in the rest of the United Kingdom.  This is understandable given this industry remains the UK’s largest corporate taxpayer and largest industrial investor, and its crucial role in helping assure thousands of well-paid highly skilled jobs as well as our energy security”.