• 5 minutes Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 9 minutes Sell out now or hold on?
  • 16 minutes Oil prices going down
  • 1 hour Oil prices going down
  • 17 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 18 hours Another WTH? Example of Cheap Renewables
  • 5 hours What If Canada Had Wind and Not Oilsands?
  • 1 hour After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
  • 37 mins Two Koreas Agree To March Together At Asian Games
  • 1 hour Sell out now or hold on?
  • 17 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 2 days When will oil demand start declining due to EVs?
  • 10 hours No LNG Pipelines? Let the Trucks Roll In
  • 1 hour Geopolitical and Political Risks make their strong comeback to global oil and gas markets
  • 16 hours The Permian Mystery
  • 5 hours Australia mulls LNG import
  • 10 hours China & India in talks to form anti-OPEC
  • 2 days Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 1 day Gazprom Exports to EU Hit Record
Alt Text

Oil Industry Expects Wave Of M&A Deals

The oil & gas industry…

Alt Text

The Fourth Industrial Revolution Is On The Horizon

The Fourth Industrial Revolution is…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

North Sea Spotlight: What Scottish Independence Will Mean for UK Oil

In a few weeks’ time, the oil in the North Sea could suddenly be under the sovereignty of a new country.

Scotland is pushing for a referendum on independence from the United Kingdom, and the September 18 vote is quickly approaching. The nationalists hope to build an independent country on the back of North Sea oil, which they say will help them fund schools, infrastructure, and healthcare. Currently, as a member of the UK, revenues from North Sea oil production are collected by the British government in London. But, if Scotland becomes independent, around 90% of the oil in the North Sea will fall within Scottish territory.

Pro-independence nationalists claim that the tens of billions of dollars will bring economic growth to Scotland, and investment will halt the decline in production in the North Sea. How true is this? Can North Sea production be turned around? Let’s take a look at Scotland’s bid for independence and the role that the North Sea will play in it.

The North Sea has been the core of British oil and gas production for decades, accounting for more than 90% of the country’s output. So when talking about British oil production, we are really talking about offshore oil. Production temporarily peaked in the 1980’s, and after a brief recovery in the 1990’s, British oil production went into a sustained period of decline. In 2013, the UK only produced 820,000 barrels per day, a 62% decline from a decade earlier. From…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News