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MP welcomes new support for North Sea oil and gas

Northern Isles MP, Alistair Carmichael, has welcomed the announcement that the government is set to provide additional support for investment in the North Sea energy industry.

UK treasury minister, Justine Greening, confirmed this week that the government would extend the ring fence expenditure supplement (RFES), a measure which helps producers operating in more marginal fields.

Mr Carmichael said: “While the UK has some of the most significant emissions reduction targets in the world, fossil fuels will remain an important part of our energy mix for many years to come.

“North Sea oil and gas is not simply a source of power for homes across the country, but also creates jobs and generates vital tax revenues. The oil and gas industry is an essential part of our local economy, and this announcement is good news for the Northern Isles.”