Budget: what are the key takeaways for the UK energy industry?
The UK's first female chancellor said her budget will drive economic growth and "invest, invest, invest".
HM Treasury
North Sea must ‘look beyond’ windfall tax to be ‘open for business’
UK energy minister Michael Shanks has urged North Sea investors to "look beyond" the government's proposed windfall tax, despite warnings the oil and gas sector is "under threat".
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.
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.
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.
Autumn statement signals ‘big change’ for UK oil and gas decom taxation, expert says
Treasury documents released last week could spell good news for North Sea decommissioning and CCUS investment, but tax uncertainty remains.
UK government plans new oil and gas ‘price shock’ tax mechanism post-EPL
The UK government is planning for the introduction of a new tax mechanism for North Sea oil and gas operators following the scheduled end of the windfall tax in 2028
Wind firm to take UK Govt to court over ‘smash and grab raid’ on electricity generators
A major investor in UK wind energy plans to take the government to court over its “smash and grab raid” on renewables generators.
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.
IR35 delay hopes ‘fanciful’ warn employment experts
Employment experts have warned that hopes of a further IR35 delay are “fanciful”, despite months more of Covid lockdown measures coming.
Analysis: Government relief deeds for decommissioning
The Decommissioning Relief Deed dates back to a statement by the then Chancellor of the Exchequer, George Osborne, in September 2013.
Offshore Europe 2015: OGA’s Samuel calls on North Sea operators to listen to the supply chain
The oil and gas regulator has called on North Sea operators to listen to the supply chain if the industry wants to really improve collaboration and cut costs.