19:39 Stephen Flynn (SNP)

I have raised this issue of the lack of support for the offshore industry with the Government on numerous occasions in recent months, and it is important to stress that the challenges facing the industry are not isolated to the coronavirus pandemic. On 3 January, the price of a barrel of Brent crude oil was almost $70, whereas as of 5 pm today it stood at about $26, having been as low as $19 last week. The industry has had to face the perfect storm of an OPEC price war coupled with the unprecedented situation posed by covid-19. The harsh reality is that the storm is being felt in Aberdeen, and I, like many others, feel that it could get much worse before it gets better. One way in which it can get better, and sooner, is if the UK Government listen and act upon the support mechanisms proposed by the likes of Oil & Gas UK in relation to the job retention scheme, the covid corporate financing facility and the coronavirus business interruption loan scheme—CBILS. Another way is to provide the money necessary to support the city and wider region to embark on a just transition that protects jobs and builds a sustainable future.

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