Scotland's First Minister John Swinney has expressed deep concern over reports that oil giant BP is considering leaving the North Sea. According to Bloomberg, the company has initiated an internal review of its North Sea operations, though no final decision has been made.
Speaking during a campaign stop in Glasgow, Swinney blamed the UK Government's windfall tax on oil and gas for the potential move. 'What will be driving this is the hostile taxation approach of the United Kingdom Government through the energy profits levy,' he said, adding that he had told the Prime Minister the levy was causing 'significant economic damage' to Scotland and accelerating the decline of the North Sea sector.
Swinney urged the UK Government to remove the levy, stating that the speculation about BP should prompt early action. He also criticised Prime Minister Sir Keir Starmer, claiming he was distracted by the controversy surrounding the hiring and firing of former US ambassador Lord Peter Mandelson. 'The Prime Minister is distracted by his own failures and can't take the proper actions to protect jobs and employment within Scotland,' Swinney added.
The reports come after UK Energy Secretary Ed Miliband described BP's profits, which tripled in the first quarter of this year, as 'morally and economically wrong' in a now-deleted social media post.
