Swinney ‘very concerned’ by reports of BP considering leaving North Sea

Reports suggest the oil giant is considering its position in the North Sea.

Scotland’s First Minister is “very concerned” by reports that oil giant BP is considering leaving the North Sea .

Bloomberg reported the firm had begun an internal review of its North Sea operations, though no final decision had been made.

Speaking to the Press Association on Saturday during a campaign stop in Glasgow, John Swinney put the blame squarely on the UK Government and its windfall tax on oil and gas.

“I’ve seen the reports and I’d obviously be very concerned about that,” the First Minister said.

“What will be driving this is the hostile taxation approach of the United Kingdom Government through the energy profits levy, and I’ve told the Prime Minister to his face that the energy profits levy is causing significant economic damage to Scotland and the North Sea oil and gas sector.

“It’s accelerating the decline of the sector and I made it clear to the Prime Minister he should remove that energy profits levy, and the speculation about BP I think should prompt early action from the UK Government.”
But Sir Keir Starmer , the First Minister claimed, was distracted by pressure on his position as a result of the scandal surrounding the hiring and firing of former US ambassador Lord Peter Mandelson.

“But, as with so many questions of the challenges that we face, the Prime Minister is distracted by his own failures and can’t take the proper actions to protect jobs and employment within Scotland, and that’s an example of the weakness and the failure of a Labour Government,” Mr Swinney said.

The reports come after UK Energy Secretary Ed Miliband described BP’s profits – which tripled in the first quarter of this year – in a now deleted post on social media as “morally and economically wrong”.

The UK Government has been contacted for comment.