North Sea Oil and Gas Industry

Christine Jardine Excerpts

Monday 27th October 2025 Commons Chamber

[Michael Shanks]

We have been looking at a number of proposals. I met the five companies that are the frontrunners for National Wealth Fund investment, along with the Scottish Government Energy Minister. A number of propositions are to be taken forward, and I hope we will have an announcement to make in due course. Of course, we have been trying not to just spend £200 million on the first thing that comes along but to find the genuinely long-term, viable industrial opportunities that deliver jobs at Grangemouth, not just for a year or two but long into the future. The hon. Gentleman is right that for far too long the site has been the victim of a lack of planning, and it is an example of a just transition done wrongly. We want to make that different by having a serious plan for long-term jobs on the site. The NWF has brought companies to the table, and we will deliver an announcement on that in due course.

[Christine Jardine (Edinburgh West) (LD)]

I accept the Minister’s comments about Petrofac, but it is a very worrying day not just for the 2,000 workers whose jobs are at stake but for the entire oil economy in north-east Scotland. Two things are missing that we desperately need in Scotland: one is investment in the jobs and skills that we will need for the renewable industries the Minister talks about, and the other is the reform of the taxation system and the windfall tax to ensure that it is consistent for the North sea area. What are the Government going to do about those things?

[Michael Shanks]

The hon. Lady is of course right that any announcements like this are worrying not only for those directly involved but for the wider community. I entirely recognise that point. She is right that it is critical to invest in the jobs of the future. We have worked with the Scottish Government—because we do work with them—to deliver joint funding for transition support so that workers can get the direct skills support they need to move from an oil and gas job into a renewables job. That is really important, but we also need to see much more upskilling of the next generation, who can take advantage of the jobs we will create in the clean energies of the future. On the question of taxation, I am afraid that is a matter for the Chancellor.