Future of the North Sea Oil and Gas Industry

Motion Text

That this House believes that the dual impact of low oil prices and covid-19 could lead to the collapse of the North Sea oil and gas industry; notes the Offshore Co-ordinating Group (OCG) of trade unions’ estimate that 3,500 jobs in the supply chain are at immediate risk, with over 1,000 redundancy notices in the drilling sector alone; further notes the employers’ estimate that 30,000 industry jobs could be lost by autumn 2021; notes that oil and gas meets over 75 per cent of the UK’s primary energy needs and that imports increase carbon emissions; welcomes the formation of the Pandemic Steering Group including employers, regulators and OCG unions; agrees with the view that furlough is a welcome but temporary measure; notes that oil and gas reserves under the North Sea are publicly owned; believes that the state should be the licensee for exploiting oil and gas resources under the UK Continental Shelf; further believes that a Just Transition to net zero carbon is impossible if domestic oil and gas reserves are shut down before 2050; and calls on the Government to prioritise the formation of a task force including OCG trade unions, employers and the Scottish Government to protect jobs and skills, production, investment, decommissioning and tax revenue from this strategically vital industry.