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Government Meddling influences Shell decision in Aberdeen argues Bruce

June 14, 2007 4:52 PM

Commenting on Shell UK's announcement that it will no longer be building office facilities at the Tullos site in Aberdeen following its decision to sell some North East assets, Aberdeenshire MP Malcolm Bruce said:

The Government's constant changing of the tax regime in the North Sea has made it a higher investment risk in comparison to other parts of the world. The Government should move to giving more long term incentives to a variety of oil and gas companies to encourage them to commit to the long term. It should take Shell's decision as an indication that when companies have criticised the Government's tax changes and the risk environment of the North Sea they were not crying wolf. There is still a lot of oil and gas in the North Sea but it requires the right climate.

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