To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent representations he has received from Xcite Energy Limited shareholders.
2 March 2017
The Department for Business, Energy and Industrial Strategy (BEIS) has received correspondence from Xcite Energy Limited shareholders in recent months, and I was sorry to hear of the impact the company’s recent insolvency has had on them. BEIS and the Oil and Gas Authority continue to monitor the situation. The arrangements surrounding the sale process and the marketing of the assets is a matter for the court-appointed liquidators who, I understand, have been in contact with shareholders to explain the position.