Scotland’s oil and gas sales reach ‘record levels’

Scotland saw an 8.4% rise in exports in its oil and gas supply chain, reaching $12.7 billion (£8.2bn) in the last two years. Latest figures showed international activity in the […]

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By Priyanka Shrestha

Scotland saw an 8.4% rise in exports in its oil and gas supply chain, reaching $12.7 billion (£8.2bn) in the last two years.

Latest figures showed international activity in the sector accounted for a “record” 47.6% of total sales, an increase from 31% over the last decade.

Total oil and gas supply chain sales, including sales through subsidiaries, rose by 5.8% to reach $26.7 billion (£17.2bn), with exports to over 100 markets across the globe.

Energy Minister Fergus Ewing said: “Scotland has established a global reputation within the oil and gas sector and I am delighted that these latest figures show an increase in international sales, which now account for almost 50% of total sales.

“The Scottish Government recognises the substantial contribution that the oil and gas industry makes to our economy. We are working with the industry to continue to strengthen Scotland’s position as a global leader in the sector and these figures mark further growth in this important part of our economy.”

Strongest growth was reported in the Middle East but the African region was the second most important with a 5.9% increase in sales. North America remained the top region for international sales with £2.6 billion of sales targeted into the region, a 2.8% rise since 2010.