UK Government ‘open’ to £1trillion sector deal for oil industry

UK Government ‘open’ to £1trillion sector deal for oil industry

Scottish Secretary David Mundell told the Press and Journal that there was "every possibility" that the lucrative package can be finalised.

The Conservative minister raised hopes of an agreement as he warned that the North Sea industry should be "very worried" by recent comments from Labour leader Jeremy Corbyn, who signalled that he could review offshore taxes if he becomes prime minister.

"That's a very important backdrop. It's a strategy that recognises the importance of the industry and recognises the scope for sector deals.

"We're open to such a deal and it has to be said the oil and gas industry is one of the most effective at making its views known to government.

"I think there's every possibility that there can be an oil and gas sector deal and that dialogue continues."

Read more at Energy Voice.

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