Extract from Commons debate on the Energy Trilemma: Shell - Mar 23

David Duguid (Banff and Buchan) (Con):...The EPL has a particular impact on smaller independent operators such as Harbour, Ithaca, Spirit, EnQuest and a number of other small businesses, which do not have the resources of BP and Shell to invest elsewhere in the world. Another impact on the small independent producers comes from the revisions to the EPL to eliminate the price floor, which has had the unintended consequence of reducing lending capacity available from banks to the sector. Unlike some larger companies, the smaller organisations cannot afford to fund capital expenditure solely from their own balance sheets...

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