North Sea oil tycoon warns against second indy ref

Jessica Morris
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145th Open Championship - Day One
Sturgeon will outline five Brexit demands later today (Source: Getty)

One of Scotland's most successful businessmen, Sir Ian Wood has urged Nicola Sturgeon not to call a second independence referendum.

It comes as Sturgeon prepares to make a speech later today, outlining five Brexit demands for Scotland which could trigger a second Indy ref in the next two years.

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Wood, who made his fortune in the North Sea, said that the move would hit Scotland's economy. It would also create more uncertainty for oil and gas producers, who've already been stung by low crude prices.

Wood told the Sunday Times yesterday: "Scotland would have to vote for independence and then apply to join the European Union and that is a long process and one that would be damaging, with a lot of uncertainty for the oil and gas industry. Also, in voting for independence, we would not know what the conditions of our European entry would be."

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"I was in favour of remaining in Europe. I have this idea we are becoming too divisive in the world. Everyone wants to be independent, but I think bigger economic units are more successful. We actually have to be better at living and working together."

Sturgeon has previously said "remain means remain", suggesting Scotland's relationship with the EU should be preserved when the UK formally leaves.

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