THE SNP have said profits from North Sea oil and gas must be reinvested in Scotland, accusing Westminster of “hoarding” Scotland’s energy wealth.

SNP Westminster leader Stephen Flynn said that "the time for excuses is over". 

It comes as BP and Shell are expected to announce major profits this week - with BP expected to report its second-highest first-quarter profit in more than a decade.

READ MORE: Labour's North Sea oil tax plans branded 'slap in the face'

The SNP are calling for money raised from the North Sea to be used to cut energy bills in Scotland and for funds to be reinvested in the north-east of Scotland.

This includes a call for Westminster to match the Scottish Government's £500 million just transition fund as well as delivering on the £1 billion carbon capture investment.

Flynn said: "With energy companies expected to announce bumper profits, it's essential the money raised from North Sea oil and gas is reinvested in Scotland - not hoarded, yet again, by Westminster.

"Scotland is energy-rich, yet families are being forced to pay extortionate fuel bills while Westminster reaps the financial benefits.

"It beggars belief that the Tories refuse to match the Scottish Government's £500m just transition fund, and still haven't delivered the carbon capture investment that was promised in the 2014 independence referendum.

"And the Labour Party is just as bad - shocking Scottish voters by admitting it plans to use Scotland's energy wealth to fund a council tax freeze in England.

"The time for excuses is over. Westminster must reinvest Scotland’s energy wealth back into Scotland’s communities."