Scotland’s North Sea oil and gas revenues plummet 97%

Scotland’s revenues from North Sea oil and gas plummeted by 97% during the last financial year, according to new data.

The Scottish government’s receipts from the industry fell to just £60m, down from £1.8bn in 2014/15 and a peak of £11.6bn in 2008/09.

Figures released earlier this year showed that across the whole of the UK, oil and gas revenues collapsed to a record low in 2015/16. Scotland’s share accounts for over 75% of the total.