Oil tycoon Sir Ian Wood says halting new fields would be 'crazy'

It would be "absolutely crazy" for the UK to stop drilling for new oil, a business leader has claimed.

Sir Ian Wood, who used to run a major oil supply company, believes it would be "detrimental, environmentally" to shut down the sector.

He says new fields are necessary to stop oil and gas being imported from countries with less strict regulations.

Environmentalists say drilling for new oil would be "disastrous for the climate".

The claims come amid opposition to the proposed Cambo oil field west of Shetland.