Royal Dutch Shell is not planning for the prospect of Scotland gaining independence, according to the company’s finance chief who said any Government that controls the North Sea has to get the tax regime right or risk frightening off investors.
Asked what the oil and gas giant is doing to plan for the possibility of Scotland becoming independent, chief financial officer Simon Henry said: “The answer is we are not planning.”
Talking after the Anglo-Dutch firm announced a 15% drop in third-quarter profits, Mr Henry said he would not comment on the independence debate from a political perspective.
He noted Shell has underlined its enthusiasm for the UK North Sea by announcing plans to make bumper investments.
While companies face a long wait for the planned independence referendum in autumn 2014, Shell announced earlier this month it would invest in the giant Fram field. It also agreed to pay $525 million (£325m) to increase its interest in the Beryl area fields.