UK election may hit shale prospects

London-based GlobalData said that at a time when the offshore sector was weeks away from gaining an expected tax break of some form on North Sea oil next month in the Budget, the shale sector’s investment case may be only set to worsen depending on how wins the national vote on 7 May.

The analysts said despite the UK government’s introduction of the onshore ‘pad’ allowance and its removing of various access obstacles to shale development, the forthcoming general election could lead to a considerable impact on future policies.

GlobalData