Energy service company Wood said today that the US corporate income tax rate reduction would result in a “one-off, non-cash credit” to its profit and loss statement for 2017.
Statoil will see its cash flow for this year lowered by more than £55million after Norway announced yesterday it would raise taxes for the country's vast oil and gas sector.
A second offshore development was pulled yesterday - as Chancellor George Osborne insisted his £10billion tax raid on the North Sea would not hurt investment.
Norwegian energy giant Statoil has halted work on a £3billion-plus North Sea development following Chancellor George Osborne's tax grab on the industry, the Press and Journal can reveal.
