£4billion in the balance: EnQuest CEO warns of impact of UK tax levy on investment
Another North Sea major has weighed in on the how the Energy Profits Levy will cause "irreversible damage to an indigenous and strategically important UK industry".
Energy Profits Levy (EPL)
Hartshead Resources moves closer to field development plan for Anning and Somerville
Australian operator Hartshead Resources is moving closer to a field development plan for its Anning and Somerville development
British business group calls for taskforce to avoid ‘catastrophic harm’ to North Sea jobs and UK economy
British Chambers of Commerce (BCC) director general Shevaun Haviland warned that while the "imperative for net zero is ratcheting up daily", the UK needs a plan in place "as soon as possible"
Reiter’s radar: BP North Sea boss talks capital competition and workforce worries
Despite BP’s (LON: BP) North Sea boss being hopeful about the future of oil and gas in the UK, Doris Reiter says uncertainties driven by government policy are undermining investment confidence and the energy transition.
Labour’s North Sea tax hike to land £13 billion blow to UK economy, OEUK says
UK government plans to raise the windfall tax on North Sea oil and gas firms could cause a £13 billion hit to the UK economy between 2025 and 2029, a report has found.
UK ‘committing suicide economically’ over North Sea policies, Hunting CEO says
Hunting CEO Jim Johnson sees strong growth for the 150-year-old firm in South America and the Middle East, but his outlook is less positive for the UK.
EPL changes not to impact Rosebank but will jeopardise ‘further investments’
Rosebank remains unchanged despite UK fiscal instability, however, future investment worth up to £10 billion may be impacted, said an Equinor boss.
Ithaca reports “robust” half year but warns of “long-term damage”
Ithaca Energy (LON: ITH) has hailed "robust" cash flow but has warned about the "ongoing impact" of the UK government's oil and gas fiscal policies and the "long-term damage" they will cause.
UK energy supply chain companies warn “time is running out” to save jobs and investment
The 42 companies manufacturers, professional services and engineering companies employing tens of thousands have issued a joint letter to Sarah Jones, Minister of State for Industry and Decarbonisation.
Labour government promises UK energy independence
New government, new policies and a thirst for energy independence, but what does this grandiose phrase mean? Independence from volatile international prices, from the UK’s “broken energy market” or from the tyranny of utilities? Labour is not suggesting a UK oil and gas sector renaissance; the country will instead become a clean energy superpower. But is this achievable and is it desirable?
UKSIF accuses North Sea firms of ‘delaying tactics’ and ‘failing to invest’ in energy transition
The windfall tax is an "appropriate mechanism" because North Sea oil and gas firms have "consistently failed to invest" in the energy transition, according to the head of a sustainable finance group.
EnergyPathways ‘not been affected in a negative sense’ by windfall tax tinkering
EnergyPathways CEO Ben Clube is looking on the bright side of Labour’s windfall tax changes as he feels the winds of change blowing in the North Sea.
Treasury minister meets with oil and gas leaders in Aberdeen to calm EPL fears
OEUK says next few weeks will be "critical" as Treasury Minister promises ongoing talks on windfall tax changes ahead of October budget.
GMB and BRINDEX urge UK government to listen to oil and gas workers
GMB, one of Labour's biggest financial backers and a group made up of the North Sea's biggest independent producers, have joined forces to warn about the impact government's plans on workers.
Mitch Flegg: Labour has right plan if it wants to ‘kill’ oil and gas and the supply chain
A senior North Sea leader has issued a chilling indictment of the UK Government's tax policies and the impacts it will have on jobs and key industry.
Tory leader candidate admits windfall tax extension was mistake in Aberdeen visit – and now Labour are ‘doubling down’
Leadership hopeful Kemi Badenoch was in the north-east to hear where the Conservative government had "gone wrong".
Aberdeen councillors say Labour’s windfall tax puts just transition at risk
Aberdeen councillors, including Labour members, have unanimously backed a motion agreeing the UK government's windfall tax policy puts jobs and a just transition at risk.
Irish Sea gas developer EnergyPathways finds positive in EPL changes
Gas firm EnergyPathways (AIM:EPP) has shared its support for last week’s changes to the energy profits levy which prompted outrage from some of its peers.
EPL changes mean ‘companies like Serica won’t invest’ says chairman
Serica Energy's chairman has argued that changes to the EPL will lead to firms like his not investing in the UK and job losses.
Hartshead Resources progressing North Sea projects despite windfall tax woes
Australian firm Hartshead Resources (ASX:HHR) is continuing work on its North Sea developments despite ongoing fiscal uncertainty surrounding the windfall tax.
Windfall tax changes to ‘hasten demise’ of North Sea
North Sea observers decry "utter economic insanity" as UK government confirms windfall tax increase and extension to March 2030.
Chancellor targets ‘unjustifiably generous’ investment allowances and confirms North Sea windfall tax
The Labour Party has forged ahead with plans for the rise and extension of the windfall tax on North Sea companies which will come into force 1 November.
Election Day: Labour Party policies “could spell chaos” for employment
Trade body OEUK warned "details matter" and so do incentives which have enabled Norway to reduce carbon emissions to record low levels.
North Sea oil bosses pull no punches over UK energy policy
Jersey Oil and Gas duo warn current polices are threatening energy security and hurting long-term UK economic growth.
Labour’s EPL plans to have ‘negative impact on the wider supply chain’
There has been significant attention paid over the past few months to oil and gas taxation in the UK, following Labour’s announcement regarding its intentions for oil and gas taxation, should it form the next UK government.