|
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
. | ![]() |
. |
|
![]() |
![]() by Daniel J. Graeber Edinburgh, Scotland (UPI) Mar 30, 2015
Scottish Energy Minister Fergus Ewing said he's taking a message to Texas that his country is a ripe investment destination for the oil and gas industry. "It is important that potential investors continue to have confidence in the world-renowned energy sector we have in Scotland, and this week I will speak directly with senior industry representatives emphasizing the Scottish government's support for the industry and championing Scotland's excellent oil and gas expertise, workforce and companies," he said ahead of his visit to Houston. The Scottish government estimates the oil and gas supply chain in the country boasted sales of more than $33 billion in 2013, the last full year for which data are available. Sales to the North American market totaled about $6 billion. His visit to the United States comes as most energy companies are spending less on exploration and production as oil prices remain depressed. Rig counts, a benchmark for industry activity, are down when compared with last year. In mid-March, the British government outlined tax plans to stimulate exploration and production in the North Sea. The Scottish government said the industry paid a "heavy price" because of decades of mismanagement in the regional energy sector. "The international oil sector is currently facing significant challenges, but I believe firmly in the value that Scottish businesses deliver to partners, particularly in deep-water and offshore exploration areas, and their ability to overcome those challenges," Ewing said in a statement Sunday. Scotland pegged its future during a bid for independence on revenue from oil and gas reserves in the North Sea. The bid failed last year and the government in January said the region's energy sector needs a predictable set of governing policies in order to thrive.
Related Links All About Oil and Gas News at OilGasDaily.com
|
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |