Scotland keeps eye on EU, touts oil and gas performance

EDINBURGH, Scotland, Sept. 14 (UPI) -- While keeping its eyes on the European Union, the Scottish government touted the performance of North Sea energy in the era of lower oil prices.

The government said the oil and gas industry is adjusting to a market where oil has hovered in the mid- to upper-$40 range for the better part of a year. Those prices are down about 50 percent from two years ago, though Scotland said North Sea oil and gas production rates are up by around 20 percent from last year.

"Although this remains a difficult time for the industry and its workforce, it is encouraging to note this increase in production as the industry adapts to the current period of low prices," Secretary of the Economy Keith Brown said in a statement.

http://www.upi.com/Scotland-keeps-eye-on-EU-touts-oil-and-gas-performance/6751473848424/?nll=1