Last month, Chancellor Rishi Sunak flew into the Granite City - home of the UK’s offshore energy industry. He was there to listen directly to the concerns put forward by industry leaders on the Government’s proposed energy profits levy.
Oil industry leaders have said the “ball is in the Chancellor’s court” to now address their concerns ahead of key windfall tax legislation being published next month.
Equinor’s North Sea boss has reinforced the Norwegian energy giant’s commitment to developing the Rosebank project.
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.
Harbour Energy (LON: HBR) has issued a letter to Chancellor Rishi Sunak, it has been reported, slamming the “seriously flawed” windfall tax.
Environmental campaigners have made the Treasury their latest target in response to the recent approval of a North Sea gas field.
Sanjoy Sen sets out the case for certainty in the North Sea taxation regime in the wake of last month's windfall tax announcement.
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.
Oil giant Shell (LON: SHEL) has backtracked on its previous optimism about the UK Government’s new energy profits levy.
Boris Johnson said he wants to keep North Sea oil and gas flowing to help tackle the rising cost of living, and urged companies to boost investment.
Plans to enact a windfall tax on the profits of the oil and gas companies have drawn a mixed reaction from political figures.
Rishi Sunak has announced a multibillion-pound windfall tax on oil and gas, which the industry has slammed as sending "shockwaves" on jobs, investment and communities.
A windfall tax, reportedly due to be announced today, risks “destabilising” a planned £200bn of investment in the UK energy system this decade, the industry trade body has warned.
UK Government plans to impose a windfall tax on energy companies are expected to be brought forward and announced “as soon as Thursday”.
Westminster could be poised to hit electricity generators with a windfall tax, in addition to North Sea oil and gas firms.
A Conservative MP branded oil and gas bosses the “new oligarchs” during a debate in Westminster on Tuesday.
Aberdonians want oil and gas to continue without a tax on excess profits while work continues on the shift to greener energy, according to senior Tory Michael Gove.
The leading offshore UK trade body has claimed North Sea firms could spend up to £250 billion domestically by 2030, “far greater” than any sum to be raised through a windfall tax.
Rishi Sunak has a “moral duty” to use soaring tax revenues from North Sea oil and gas firms to boost Scotland’s energy sector, an Aberdeen MP claims.
North Sea oil and gas firms contributed more than £1.7 billion to the UK Government’s coffers in just 90 days, new figures have revealed.
Rishi Sunak has told the internet forum Mumsnet that “nothing is off the table” when it comes to an oil and gas windfall tax.
The North Sea has dodged calls for a windfall tax, but Treasury receipts from the sector are set to surge to their highest in over a decade.
Boris Johnson has told MPs that the UK must “abandon the phobia of our own hydrocarbons” for energy security.
Chancellor Rishi Sunak will come under pressure to offer more support to working families in financial pain as he makes his spring statement on Wednesday.
An oil and gas windfall tax is one of several options on the table for the Chancellor's UK Spring Statement next week.