(Banff and Buchan)
(Con):...It is worth recognising the work that
many of the large oil and gas companies have been doing to
encourage a transition towards low-carbon energies. They are often
cast as cartoon villains in relation to climate change, but
throughout the inquiry I have commended them on leading the way in
the sector, and on taking climate change seriously. That commitment
was exemplified by the creation in 2015 of the Oil and Gas Climate
Change Initiative, initially made up of the BG Group, BP, Eni,
Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell,
Statoil—now known as Equinor—and Total. Significantly, it was
joined in the last year by American companies—Chevron, ExxonMobil
and Occidental. Having worked for many of those companies as a
member of staff, mostly for BP, and as a consultant for some of the
others, I can confirm that that commitment to a low-carbon future
is not just lip service...
(Edinburgh North and Leith)
(SNP):...I think we will have to agree to disagree on
the benefits or otherwise of sovereign wealth funds, but can I
ask about the taxation situation and North sea oil revenues? In
2017, Norway taxed the Royal Dutch Shell company £4.6 billion,
while the UK gave the company £176 million. Can the Minister talk
a little bit about the implications of those figures? I find them
quite staggering.
The Parliamentary Under-Secretary of State for Business,
Energy and Industrial Strategy (Richard Harrington): The
hon. Lady has caught me unawares, because I am afraid tax is not
one of my specialities; I apologise to her. I will find out about
that, and if she would like me to write to her—or we could have a
coffee together outwith this place—I would be happy to do
so...
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