Scottish Energy Sector Urged to Find Political Unity Amidst Industry Challenges

Priya Sharma, Financial Markets Reporter
4 Min Read
⏱️ 3 min read

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In a crucial call to action, Offshore Energies UK (OEUK) has highlighted the urgent need for political leaders in Scotland to rally behind the nation’s energy sector, which is at a significant crossroads. As the country prepares for elections, the industry body is advocating for a comprehensive strategy that embraces both renewable and traditional energy sources, warning that failure to do so could jeopardise Scotland’s energy independence and economic stability.

A Plea for an Integrated Energy Strategy

Ahead of the release of its Scottish election manifesto, OEUK has stressed the importance of adopting an “all-energy” approach. This strategy would prevent the division of the workforce into “clean” and “dirty” categories, which could undermine the sector’s viability. The organisation is particularly keen on ensuring continued support for oil and gas extraction, specifically in the promising Rosebank and Jackdaw oil fields.

According to OEUK, the offshore energy sector contributed an impressive £36 billion to the UK economy in 2024, supporting over 240,000 jobs nationwide. Alarmingly, more than half of these roles—approximately 128,400—are situated in Scotland, contributing £24 billion to the local economy. The body emphasises that these figures are more than mere statistics; they represent the livelihoods of families and the economic lifeblood of communities across the nation.

The Threat of Energy Dependency

Despite Scotland’s vast energy resources, OEUK has pointed out that the UK imported over 40% of its energy in 2024, the highest level seen in more than a decade. This reliance on external sources is attributed to policy decisions rather than geological limitations, raising concerns about the potential collapse of local industries. The organisation argues for pragmatism in energy policy, calling for all political factions to endorse Scotland’s energy sector.

David Whitehouse, OEUK’s chief executive, remarked, “Scotland’s offshore energy sector is the backbone of our economy, our communities, and our future.” He highlighted the recent closures of key facilities, such as the Grangemouth refinery and the chemical site at Mossmorran, which have resulted in the loss of vital skilled jobs. Whitehouse believes that a unified approach focused on sustainable practices can secure the industrial future of Scotland for decades to come.

Prioritising Domestic Production and Investment

OEUK insists that supporting domestic oil and gas production is essential for a robust energy strategy. The group advocates for a fiscal and regulatory environment that encourages investment while also promoting the development of renewable energy sources. Critical recommendations include reforming transmission charges, committing to carbon storage solutions like Acorn, and bolstering Scotland’s industrial sector.

The message is clear: now is the time for all political parties to unite in support of Scotland’s energy sector. As the nation stands at a pivotal juncture, the future of its industries and energy independence hangs in the balance.

Why it Matters

The implications of OEUK’s call extend beyond mere statistics; they touch the very heart of Scotland’s economic resilience and energy security. In a time of increasing energy demands and shifting policies, the ability to harness both traditional and renewable resources could determine Scotland’s position as a leader in the energy transition. Without a cohesive strategy that brings all political parties together, the risk of industrial decline and energy dependency looms large, threatening the livelihoods of thousands and the stability of communities across the region.

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Priya Sharma is a financial markets reporter covering equities, bonds, currencies, and commodities. With a CFA qualification and five years of experience at the Financial Times, she translates complex market movements into accessible analysis for general readers. She is particularly known for her coverage of retail investing and market volatility.
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