North Sea oil industry 'needs stability'

Ministers from both the UK and Scottish governments are in north-east Scotland to set out plans for the future of the North Sea oil and gas industry - a key issue ahead of the 18 September independence referendum.

The Westminster government says it wishes to fast-track plans to get the most out of the UK's remaining offshore oil and gas, following a review by Sir Ian Wood.

Speaking to the BBC, Scottish Secretary Alistair Carmichael argued that North Sea oil was an important but volatile commodity, so the industry would be better served if Scotland rejected independence.

"As a United Kingdom we can share the challenges that peaks and troughs (in oil prices) present", he added.