One of Britain’s oldest oil and gas supply chain firms has blamed successive UK governments for the decline of the North Sea industry.
According to The Telegraph, Hunting is closing four of its five UK centres, with Chief Executive Jim Johnson saying the decision was driven by a “cult of carbon”.
He warned that Britain’s approach to net zero risked leaving the country “poorer and weaker”, saying successive UK governments have made some "utterly ridiculous decisions".
Mr Johnson said tax raids introduced under the Conservatives in 2022, and later expanded under Labour to raise the overall rate to 78%, had crippled the basin. He added that bans on new oil and gas exploration had further damaged confidence, contrasting the UK’s stance with Norway’s.
Mr Johnson said: “Both your main parties (Labour and Conservative) have been hugely negligent for the UK’s future energy supplies. They have made some utterly ridiculous decisions.
“Aberdeen was a global centre for oil and gas but it is being flushed down the toilet. I went to Norway recently – they have the same geology as the UK – and the attitude was ‘drill, baby, drill’, because there’s still lots of oil out there.”
Hunting is now shifting its focus to the Middle East, where it has recently opened a new facility in Dubai to serve growing demand.