Tories receive £400,000 in donations from oil bosses ahead of election

The Conservative Party has received nearly £400,000 in donations to their election campaign from top oil executives, according to figures from the Electoral Commission.

The filings come shortly after it was revealed Petrofac chief executive Ayman Asfari, whose company is under investigation by the Serious Fraud Office, had given the Tories a series of donations worth £90,000 in December.

Asfari has been questioned in relation to alleged corruption and money laundering at the Jersey-based oil firm.

The Electoral Commission records show around £390,000 in total being donated to the Tories by executives associated with oil companies, while the Conservative manifesto shows a commitment to backing the oil and gas industry.

Ian Taylor, chief executive of oil trader Vitol and EnQuest boss Amjad Bseisu were among the individuals who have donated to the Tories.

"CRITICAL ROLE"

The Conservative manifesto says that fossil fuel industries will continue to have a "critical role" in the UK energy sector, while also pledging to lead global action on climate change.

"We will ensure that the sector continues to play a critical role in our economy and domestic energy supply, supporting further investment in the UK’s natural resources," the manifesto says.

"We will continue to support the industry and build on the unprecedented support already provided to the oil and gas sector."

May called a snap election for 8 June, with early signs showing the Conservatives have a significant lead over Labour, but Jeremy Corbyn's party has gained momentum as the vote nears.

Meanwhile on Thursday, Petrofac shares plunged to their lowest since 2009 after the SFO accused the oilfield services company of failing to co-operate properly with its investigation.