Wednesday 19 February 2014

Scots’ independence “won’t affect oil industry” says ex-BP boss

Scots’ independence “won’t affect oil industry” says ex-BP boss

Dr Tony Hayward, the former chief executive of British oil giant BP said this week there will be no effect “whatsoever” on the oil sector if Scotland becomes independent.

His remarks contrast with those of current chief executive Bob Dudley, who recently said Scottish independence raises a “question mark” for the firm.

The ex-BP boss who resigned after the Deepwater Horizon disaster made a rare public appearance at the IP Week conference in London on Monday.

When asked by ELN what impact he thought independence would have on the oil industry, Dr Hayward (pictured) replied: “None whatsoever.”

He said: “Our industry is very good at working with whoever happens to be in power. It’s what the industry does.

“My view is the industry will continue to invest and life will continue.”

Earlier this month his successor at the helm of BP told the BBC potential currency changes are a “big uncertainty”.

Mr Dudley said: “We have a lot of people in Scotland, we’ve got a lot of investments in Scotland. I don’t know … there’s much debate about what would happen with the currency and of course whether there would be connections with Europe or not.

“These are quite big uncertainties for us. At the moment we’re continuing to invest at the (same) pace because these projects are under way.”

The oil reserves in Scotland’s swathe of North Sea are a central part of Scottish First Minister Alex Salmond’s plan for independence.

He claimed last year its reserves were worth £1.5 trillion and said he would create a Norwegian-style oil fund from tax revenues if Scotland voted to break from the rest of the UK.

Written by

Bruna Pinhoni

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