Shell receives £76m refund as part of UK Government tax scheme
Shell received a refund from the UK Government of around $100 million in 2020, according to new figures.
petroleum revenue tax
OBR cuts forecast for North Sea tax receipts
The Office for Budget Responsibility (OBR) has cut its forecast for North Sea oil tax receipts to the UK Treasury.
Government report reveals CNOOC as North Sea’s largest taxpayer, Shell sits lowest
A government report has revealed CNOOC was the biggest tax spender in the North Sea last year while energy giant Shell paid the least on balance after a reimbursement.
Westminster Files: Ministers knew tax change would hit North Sea
UK Government ministers knew that a controversial tax change in 1993 would “undoubtedly depress” exploration in the North Sea.
‘Tax on third-party access should be cut’
Earlier this year, Endeavour International became the first operator to ask the Department of Energy and Climate Change (DECC) to rule on a UK North Sea pipeline access price disagreement. The target was Canadian group Nexen.
Having weathered the storm, what is the outlook for North Sea?
In many ways, today's operating environment is very different from that which was being experienced when Oil & Gas UK last published its activity forecasts 12 months ago.
TAQA taking advantage of tax initiative
The UK arm of Abu Dhabi national energy company TAQA revealed yesterday it is to take advantage of a recent UK Government tax incentive to bring on stream an undeveloped accumulation of oil in the North Sea.
Tories to tackle offshore tax with incentives
The possibility of changes in offshore oil and gas taxation after the general election will be raised today.