Government expenditure & revenue Scotland 2025-26
Government Expenditure and Revenue Scotland (GERS) is an Accredited Official Statistics publication. It estimates the revenue raised in Scotland and the cost of public services provided for Scotland.
Part of
2. North Sea Revenue
Chart 2.1: North Sea Revenue in Scotland and UK peaked in 2008-09, before falling. Although close to the peak again 2022-23 North Sea revenue has fallen in each year since
North Sea revenue Scotland (geographic share) and UK
(£ billion)
North Sea revenue refers to all offshore oil and gas activity and includes: petroleum revenue tax, corporation tax, licence fees, and the energy profits levy.
The revenue raised from each component of North Sea revenue since 2023-24 is shown below. UK North Sea revenue declined in each of the last three years. In 2025-26 it was £3.9 billion. This reflects the path of oil and gas prices over recent years declined compared to 2024-25.
|
Source of Revenue |
2023-24 |
2024-25 |
2025-26 |
|---|---|---|---|
|
Licence fees |
46 |
47 |
47 |
|
North Sea corporation tax |
2,685 |
2,233 |
1,821 |
|
Petroleum revenue tax |
-427 |
-350 |
-459 |
|
Energy profits levy |
3,169 |
2,520 |
2,519 |
|
Total |
5,473 |
4,450 |
3,928 |
Scotland’s illustrative geographical share of UK North Sea revenue is shown below, was higher in 2023-24 than the later years shown, likely reflecting the greater profitability of oil fields relative to gas fields in that year.
|
Source of Revenue |
2023-24 |
2024-25 |
2025-26 |
|---|---|---|---|
|
UK revenue (£million) |
5,473 |
4,450 |
3,928 |
|
Licence fees |
46 |
47 |
47 |
|
North Sea corporation tax |
2,685 |
2,233 |
1,821 |
|
Petroleum revenue tax |
-427 |
-350 |
-459 |
|
Energy Profits Levy |
3,169 |
2,520 |
2,519 |
|
Scottish geographical revenue (£ million) |
4,370 |
3,568 |
3,153 |
|
Licence fees |
37 |
38 |
38 |
|
North Sea corporation tax |
2,148 |
1,786 |
1,457 |
|
Petroleum revenue tax |
-350 |
-272 |
-357 |
|
Energy Profits Levy |
2,535 |
2,016 |
2,015 |
|
Scottish share of UK (%) |
79.8% |
80.2% |
80.3% |
|
Licence fees |
80.0% |
80.0% |
80.0% |
|
North Sea corporation tax |
80.0% |
80.0% |
80.0% |
|
Petroleum revenue tax |
82.0% |
77.7% |
77.7% |
|
Energy Profits Levy |
80.0% |
80.0% |
80.0% |
Further commentary on the background concerning fluctuations in North- Sea revenue are provided in the methodology publication.
Contact
Email: economic.statistics@gov.scot