Oil industry leaders to come up with better ideas to improve supplies
Oil industry leaders must come up with new ideas to improve supplies as fuel prices are on increase. The government has announced new strategies to increase oil production in the North Sea. We must reap the full benefits of the UK’s oil reserves, Gordon Brown said after lorry drivers’ protest against increasing costs. The Labour MPs were urged to review the increase in petrol prices and road tax.
The PM and Chancellor Alistair Darling are meeting oil industry bigwigs in Scotland.
At the beginning of the meeting, Business Secretary John Hutton announced the go-ahead for oil production in two new fields of west Don and Don South West.
With an estimated production rate of up to 50,000 barrels, the areas are expected to start production during the first half of the coming year.
