Oil revenues have fallen to their lowest levels since the 1960s, new figures show.
Scottish Secretary David Mundell said that the latest statistics were “particularly concerning”.
Mr Mundell is to travel to Dallas and Huston next week to press the case for investing in Scotland.
The Treasury took in the lowest amount in oil and gas revenues since 1968-69, the official figures show.
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The total was -£24 million, according to HM Revenue and Customs.
In 2011-12 the figure was £10.9 billion.
That fell to £6.1 billion in 2012-13 and then to £4.7 billion in 2013-14, as the global oil price tumbled.
Officials blamed a decline in the volumes of oil and gas produced as well as plummeting prices in recent years.
However, there was some good news as oil prices bounced back above $50 a barrel for the first time in nearly seven months.
Benchmark Brent crude rose 1 per cent to $50.22 US dollars at one stage, its highest level since last November, following supply disruptions and an increase in worldwide demand.
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Earlier this week trade unions accused Shell of dealing a body blow to the North Sea by cutting 475 jobs.
The move has led to predictions that one in six oil and gas fields could shut down.
The posts are due to go in Aberdeen, St Fergus and in Fife with 40 cut offshore.
One union leader said that the decision threatened the “ongoing viability” of the fields.
Mr Mundell said: "These oil and gas revenue figures are particularly concerning, showing a fall to their lowest level since the 1960s.”
He added: “The UK Government is doing everything it can to support the North Sea industry to become innovative and competitive on a global scale. No other government has supported their industry so extensively.
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"We have established the Oil and Gas Authority to drive greater collaboration and productivity within the industry, and in the last two Budgets we announced major packages of tax measures worth £2.3 billion to ensure the UK Continental Shelf remains an attractive destination for investment.
"We are working collaboratively with the Scottish Government and Aberdeen City and Aberdeenshire Councils to support the area, but it is because of the broad shoulders of the wider UK economy that we are able to provide this support to our oil and gas industry, and to the thousands of workers and families it supports, at this very difficult time."
He added: “Next week I will travel to Dallas and Huston, the biggest oil and gas producing cities in the USA, to press the case for investing in Scotland, and to find paths for Scottish companies to export their expertise in the industry. We need to take action now to build a bridge to the future of the North Sea and help the UK’s oil and gas industry to export its world-class expertise around the globe.”
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