Rishi Sunak has come under fire over a windfall tax on oil and gas firms enacted during his time as Chancellor, as Shell confirms it made no additional payments thanks to generous investment rebates.
UK offshore wind farm investment will be at risk if any windfall tax imposed on renewable producers is too severe, according to the head of the world’s top developer of the projects.
France will reap €30.9 billion ($31 billion) from renewable-power producers over two years as Europe’s energy crisis boosts wholesale prices beyond guaranteed levels.
North Sea oil firms have sent a letter to chancellor Jeremy Hunt, calling the UK one of the most “fiscally unstable” places to do business in the world as another windfall tax threat looms.
Questioned on the possibility of further windfall taxes on fossil fuel profits, business secretary Grant Shapps hinted the measures could form part of the upcoming Autumn Statement.
The Middle East’s investments in energy will see the region come to lead in the energy transition, Wood CEO Ken Gilmartin has said.
Trade body Offshore Energies UK has written to Chancellor Jeremy Hunt requesting an “urgent meeting” as it warns revisions to fiscal policy are scaring off UK energy investment.
The British government should raid the banks for tens of billions of pounds to fill a black hole in the public finances, according to former Bank of England Deputy Governor Charlie Bean.
Social media platform Twitter is ablaze with reactions and hot takes on the profits announcement of energy giant BP (LON: BP)...and they're all pretty much calling for the same thing.
BP (LON: BP) has said it will pay $2.5 billion (£2.1bn) in tax during 2022 for its UK North Sea business as it reports a whopping surge in profits for Q3.
Chancellor Jeremy Hunt is considering an expansion of the North Sea windfall tax - despite figures showing a near-700% increase in payments over the last year.
Rishi Sunak's climate credentials were under scrutiny on Friday after the new Prime Minister decided to snub Cop27, amid speculation that he could move to expand the windfall tax on energy companies.
Shell (LON: SHEL) paid nothing in UK Government windfall tax during Q3 as a result of its investment in the North Sea, the oil giant has confirmed.
Rishi Sunak has been named leader of the Conservative Party following Liz Truss' resignation last week, and will take the reins at a turbulent time in British politics.
Greenpeace activists “occupied” the House of Parliament on Monday to call for a “proper windfall tax” on oil and gas companies.
Prime minister Liz Truss announced her resignation today following a turbulent 44-day tenure at Number 10.
Renewable energy generators have hit out at a new UK Government bill which they said would impose a “windfall tax” on the sector and “skew investment towards fossil fuels”.
Shell (LON:SHEL) CEO Ben van Beurden has “flung open a door on windfall tax which the UK Government had been trying to close”.
Governments need to tax energy producers to help the poorest people deal with the soaring cost of fuel, said the CEO of Shell (LON:SHEL).
The Norwegian government has announced a suite of resource rate hikes and windfall taxes on hydropower and wind generation, in a bid to redistribute profits from high electricity prices.
Proceeds from the UK Government’s windfall tax are expected to top £7 billion this year, about £2bn more than originally thought.
Jersey Oil and Gas is making “great progress” in its quest to find a partner for the Greater Buchan Area (GBA) redevelopment.
Liz Truss is to unveil a new swathe of North Sea licences, according to a news report, in an effort to boost domestic oil and gas production.
Wood Mackenzie researchers say the government’s windfall tax measures are likely to wipe around 20% off the value of North Sea operators on average, with the impact largely dependent on current tax and investment status.
Liz Truss signalled support for the North Sea oil and gas industry during her first Prime Minister's Questions in the top job.