Total begins to make massive profits from Scotland’s oilfields west of Shetland

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John Robertson
Total begins to make massive profits from Scotland’s oilfields west of Shetland

Around 8 billion barrels are thought to lie in the fields west of Shetland. See: Estimates of Scotland’s oil reserves West of Shetland now massively increased to around 8 billion barrels! ‘A super-resource now on the cards.’ French oil giant, Total, began production from two of the fields months ago and their third quarter profits have soared leading to a 40% increase from £1.5 billion in 2016 to £2.1 billion in 2017. Petroleum Revenue Tax was formerly charged at 50% but…

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John Robertson
Total begins to make massive profits from Scotland’s oilfields west of Shetland