LONDON (Alliance News) - UK oil and gas and renewable energy companies Friday expressed pleasure in the result of the Scottish independence referendum Friday morning, saying it is good for energy investment.
BP PLC said the North Sea is an important asset for the company and expects to be an active participant within the industry in Scotland for years to come. "BP will continue to work closely with both the UK and Scottish governments to realise our shared ambition of maximising economic recovery from the North Sea," a BP spokesman said in a statement.
Royal Dutch Shell PLC also welcomed the outcome of voting, stating it reduces "the operating uncertainty for businesses based in Scotland", and adding it looks forward to continuing its "proud association with Scotland".
Infinis Energy PLC said the result "preserves the status quo of an integrated UK energy market and the UK-wide applicability of the RO-legislative framework in support of continued investment in renewable energy."
The Renewables Obligation (RO), created in 2002, provides incentives for the deployment of large-scale renewable electricity in the UK.
A spokesman for SSE PLC said the power distributor will not be issuing a statement Friday, saying it is remaining neutral.
BP shares were up 1.4% to 477.89 pence per share Friday morning whilst Shell's "A" shares were up 0.3% to 2,409.50 pence per share. Infinis Energy's shares were up 3.0% to 223.70 pence per share.
SSE, which also was upgraded to Neutral from Underweight by analysts at HSBC Friday, according to traders, is up 1.6% at 1,545.00.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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