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The causes of the oil industry's 'bleak 2014'

The North Sea oil industry had its worst year for four decades in 2014.

Industry body Oil and Gas UK is calling on Chancellor George Osborne for industry tax cuts or face putting hundreds of thousands of jobs at risk.

High production costs in relation to revenue are said to be the cause of the imbalance.

Watch Scotland 2015: The Big Oil Debate on BBC Two Scotland at 22:30.

Presenter Sarah Smith chairs a debate on the future of the North Sea oil industry with Scottish Conservative MSP Alex Johnstone, Liberal Democrat MP Sir Robert Smith, Labour MP Anne Begg, Energy Minister Fergus Ewing MSP and Scottish Greens co-convener Patrick Harvey MSP.

  • 24 Feb 2015
Go to next video: Gillian Marles on the changing North Sea