IMPORTANCE OF THE UK OIL AND GAS INDUSTRY TO THE UK ECONOMY

That this House welcomes the publication of the UK Oil and Gas strategy; recognises the important role the oil and gas industry plays in the UK economy, employing over 400,000 people; further recognises that the UK supply chain also plays an important role in the UK economy with 1,100 companies achieving a combined revenue of £27 billion in 2011; notes that the oil and gas sector contributed £11.5 billion to the Exchequer in 2012 which is more than any other sector in the UK; further notes that the UK is a global leader in the oil and gas and subsea engineering sector with significant opportunity for growth in overseas markets; further notes the important symbolism of three Secretaries of State launching the strategy in Aberdeen, highlighting the UK Government's recognition of the industry; and calls on the Government to continue its support of an industry that is so important to the Scottish and UK economy.