From windfall tax to transition deal: Johnson’s energy record as PM heads for the door
Like much of his tenure as Prime Minister, Boris Johnson’s relationship with the energy sector has been somewhat rocky.
energy profits levy
Decommissioning rebates exempt from windfall tax as government throws industry a bone
Tax repayments related to losses incurred by removing North Sea assets will not be touched by the energy profits levy.
UK Windfall tax: a closer look
It is expected that the legislation introducing the new energy profits levy – better known as the windfall tax – will pass through parliament later this month, before taking effect from when it was originally announced 26 May.
Oil companies exploring potential for legal challenge against windfall tax
Leading energy lawyers say clients have enquired whether the government’s windfall tax would withstand legal challenges, as the consultation process draws to a close.
Supply chain event proves Equinor’s commitment to £4.5bn Rosebank project, says North Sea boss
Equinor’s North Sea boss has reinforced the Norwegian energy giant’s commitment to developing the Rosebank project.
Oil bosses seek windfall tax guarantees from Rishi Sunak in high-power Aberdeen meeting
Oil and gas industry executives will seek clarity on three key points from Chancellor Rishi Sunak in a high-level meeting about the windfall tax in Aberdeen on Thursday.
The Treasury has published the draft windfall tax law – and wants your thoughts
The Treasury has opened the door for feedback on the North Sea windfall tax as draft legislation has today been published.
‘Put-off’ investors and shelved projects: The view from London on the North Sea windfall tax
City of London analysts have given their verdicts on the impact of the government’s windfall tax on North Sea oil and gas producers.
Equinor dismisses ‘speculation’ of windfall tax threat to £4.5bn Rosebank project
Equinor has dismissed "speculation" suggesting it has “threatened to abandon” the £4.5bn Rosebank project due to the UK windfall tax.
Cost of new North Sea Pilot oilfield ‘could be reduced by 75%’ by tax incentives
Costs for a planned new North Sea oilfield could be shaved by 75% with new tax incentives, the firm behind it has claimed.
Power firm windfall tax could ‘jeopardise’ cutting bills and carbon – Energy UK
A windfall tax on the UK's power generators might push up household energy bills in the long term, the industry's trade body has warned.
Kwarteng pays post-windfall tax visit to Shell event hailing £25bn spending plans
Kwasi Kwarteng has paid a visit to a major Shell conference hailing the firm’s UK spending plans, two weeks after the government announced a windfall tax on the industry.
Centrica ‘will not challenge windfall tax’
British Gas owner Centrica will not launch a legal bid to challenge the Government's new windfall tax, its chairman said on Tuesday.
Government told to ensure North Sea investment allowances include platform electrification
The UK Government has come under pressure to ensure that platform electrification is included in the North Sea investment relief programme.
Windfall tax to ‘fall away’ if oil goes below $70, says Chancellor
Chancellor Rishi Sunak has said the government’s windfall tax measures are likely to fall away if oil prices sink below $70 per barrel.
Woodside boss warns profits levy is a ‘red flag’
The head of the newly merged Woodside Energy Group said the UK government’s windfall tax is a “red flag” that suggests potential investments in the North Sea carry more risk.
Serica responds to ‘significant fall’ in share price following windfall tax
Serica Energy has pressed the importance of stable fiscal policy after news of the UK Government’s windfall tax knocked around 20% off the company’s share price.
North Sea faces £17.5bn raid from windfall tax – AGCC
The North Sea will take a £17.5 billion hit from the new windfall tax, the Aberdeen and Grampian Chamber of Commerce (AGCC) has claimed.
Lack of renewables incentive is critical failure in government’s windfall tax scheme
Yesterday's announcement by Sunak was far from destructive for the North Sea oil & gas industry given the generous projects investment tax relief, but it fails, as it turns out, in at least one critical way.