[QODLink]
Europe

British cabinet woos Scotland with oil money

UK prime minister unveils boost to oil and gas sector, which it warns will decline if Scots break from United Kingdom.

Last updated: 24 Feb 2014 06:45
Email Article
Print Article
Share article
Send Feedback
Scots will vote on whether to end their 307-year-old union with England in September [Getty Images]

The British government has said it will introduce measures to increase the economic benefits from North Sea gas and oil, as it tries to persuade Scotland to remain part of the United Kingdom.

The announcement on Monday, timed to coincide with Prime Minister David Cameron's first full cabinet meeting in the Scottish city of Aberdeen, aims to boost the oil and gas industry, shore up tax revenues, reduce dependence on energy imports and to persuade Scots to stay in the UK, Reuters news agency reported.

Scots will vote on whether to end their 307-year-old union with England on September 18 and the future of the country's oil and gas industry has featured heavily in a campaign from pro-independence nationalists.

The North Sea is thought to contain billions of barrels of hard-to-reach oil, but with many platforms and pipelines coming to the end of their working lives, time is running out to get them.

The measures the government said it would adopt and fast-track were all recommended in a report drawn up by Ian Wood, former chairman of oil services company Wood Group, on maximising recovery of oil and gas from Britain's North Sea.

They include the creation of a new independent industry regulator and a decision to award production licences on the basis of recovering the maximum amount of oil from UK waters as a whole rather than just each individual licence block.

 

 

235

Source:
Reuters
Email Article
Print Article
Share article
Send Feedback
Topics in this article
People
Country
Organisation
Featured on Al Jazeera
As Western stars re-release 1980s charity hit, many Africans say it's a demeaning relic that can do more harm than good.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Tokyo government claims its homeless population has hit a record low, but analysts - and the homeless - beg to differ.
3D printers can cheaply construct homes and could soon be deployed to help victims of catastrophe rebuild their lives.
Featured
Pro-Russia leaders' election in Ukraine's east shows bloody conflict is far from a peaceful resolution.
Critics challenge Canberra's move to refuse visas for West Africans in Ebola-besieged countries.
A key issue for Hispanics is the estimated 11.3 million immigrants in the US without papers who face deportation.
In 1970, only two mosques existed in the country, but now more than 200 offer sanctuary to Japan's Muslims.
Hundreds of the country's reporters eke out a living by finding news - then burying it for a price.