OGA says Budget PRT cut will create “level playing field”
The chief executive of the UK's Oil and Gas Authority (OGA) said the reduction of the Petroleum Revenue Tax (PRT) from 35% to 0% would help create a "level playing field".
Budget 2016
Opinion: Budget a decisive move in the right direction
Budget day is always faced with some trepidation in the Oil & Gas UK offices – but I’m please to say that yesterday felt like a decisive move in the right direction.
Budget 2016: “Shot in the arm” for North Sea oil and gas industry
Chancellor George Osborne delivered a £1billion “shot in the arm” to the struggling North Sea yesterday.
Budget 2016: Oil & Gas UK backs further support for North Sea
Industry body Oil & Gas UK said the Budget unveiled by the UK Government marked "further progress" in modernising tax regime on the UKCS.
Budget 2016: North Sea tax cut “disappointing”
The fresh measures introduced by the UK Government to help support the North Sea oil and gas industry have been described as "disappointing".
Budget 2016: Raft of renewable measures introduced
The UK Government has revealed there will be £730million in new auctions for subsidies for up to 4GW (gigawatts) of offshore wind and other less established renewables.
Budget 2016: Scottish Government reacts
George Osborne has announced a package of measures worth £1billion to help the North Sea oil and gas industry.
Motoring groups ‘delighted’ after George Osborne freezes fuel duty again
Motoring organisations have welcomed the decision to freeze fuel duty for the sixth year in a row.
Budget 2016: Oil and gas industry at risk if Osborne fails to act, says Swinney
The future prosperity of the oil and gas industry could be at risk if George Osborne fails to act on the challenges the sector is facing, Scotland’s Deputy First Minister has warned.
Budget 2016: Low oil price likely to see inflation projections cut
Chancellor George Osborne is expected to overshoot his borrowing targets and see forecasts for the UK economy downgraded amid a gloomy outlook for the global economy.
Budget 2016 Guest Editor: C’mon Osborne we need….
In yesterday’s article I set out the backdrop of a collapsing commodity price, high cost base, and tightening debt and equity markets for the oil and gas sector as the context of calls for fiscal change in the Budget tomorrow – today I explain the need for a low, simple and transparent tax rate.
Derek Leith: North Sea needs Budget tax regime changes
A leading oil and gas tax expert has called on Chancellor George Osborne to make changes to the North Sea oil and gas tax regime which could put off potential buyers of late life assets.