Despite falling oil prices, Scotland bets on the North Sea

Despite falling oil prices, Scotland bets on the North Sea

Editorial Staff
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Scottish Economy Minister Keith Brown, asked for the support of the oil industry for a "bright future" in an area that recorded losses for 24 million pounds last year

"The Scottish government strongly believes that the North Sea oil and gas sector can have a bright future for years to come," stated new Scottish Economy Minister Keith Brown. Words that serve as reassurance for the sector market and companies, which have been hit with an extended period of decreasing in oil prices. The necessary condition to overcome "the considerable challenges faced by industry," is a "concerted effort by all stakeholders."  For this reason Brown visited Aberdeen, the Scottish oil industry "capital" together with Energy Minister Paul Wheelhouse to meet representatives from Nexen and EnQuest as well as union leaders and regulatory authorities. The North Sea revenue for 2015-2016 amounted to a 24 million pound deficit, down from the 2 million from the previous year.