Wood to create 300 new UK jobs amid North Sea push
Energy services giant Wood is expecting to create around 300 new jobs thanks to a surge in activity in the UK North Sea.
windfall tax
Truss drafts £130bn plan to freeze UK energy bills
Incoming Prime Minister Liz Truss has drafted plans to fix annual electricity and gas bills for a typical UK household at or below the current level of £1,971 ($2,300).
Dutch eye windfall tax in $16 billion plan to ease energy costs
The Dutch government is said to be working on up to 16 billion euros ($16 billion) in funding to alleviate the burden of high energy prices and runaway inflation on its citizens.
Shell, IR35 and Rough: Liz Truss’ energy record as she’s named new PM
With her place as the UK’s next prime minister secure, Liz Truss will soon face a tidal wave of energy policy and security decisions likely to test her campaign promises.
‘We would love to see Rosebank electrify the region’ says Equinor boss
Equinor is hoping its £8 billion Rosebank project can “trigger” wider electrification across the West of Shetland region.
UK plans to cap renewables’ profits amid rising energy costs
The UK government plans to offer fixed-price contracts to existing renewable-energy producers as a way to blunt the impact of soaring power costs on households this winter, according to people familiar with the discussions.
Truss rules out new taxes, energy rationing in final UK pitch
Liz Truss ruled out introducing any new taxes or rationing of energy this winter if she becomes UK’s next prime minister, two eye-catching pledges in her final pitch to win the post.
Nearly one in four ‘won’t turn on heating this winter’ as energy bills soar
Nearly one in four adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.
Harbour CEO says group will be ‘net debt free’ within months
The chief executive of Harbour Energy (LON: HBR) said another suite of bumper results will enable the company to reduce its net debt to zero in a matter of months, but was critical of the impact of the government’s windfall tax.
North Sea giant Harbour Energy sanctions two new projects as profits surge
Harbour Energy (LON: HBR) has sanctioned two new oil and gas projects in the North Sea as its profits swell.
Sturgeon: ‘There should be another windfall tax’
First Minister Nicola Sturgeon has said there should be another windfall tax on the North Sea, and other firms making similar profits.
Scottish energy secretary Matheson backs extension of North Sea windfall tax
Scottish energy secretary Michael Matheson has backed an extension to the North Sea windfall tax, and said he would broaden it to a range of other industries.
45 million in UK to be plunged into fuel poverty in winter
An estimated 45 million people in the UK will be forced into fuel poverty and struggle to pay energy bills this winter, new research has found.
Sunak rules out freezing UK energy price cap as Truss holds back
Rishi Sunak has ruled out freezing the UK’s energy price cap if he becomes prime minister, while his rival Liz Truss warned against “throwing money” at a short-term fix for the looming winter bills crisis.
5 things you need to know about the next prime minister after Perth Hustings
Rishi Sunak and Liz Truss set out their plans to halt another independence referendum, but clashed over competing Tory policies to sort out a cost-of-living crisis.
Next PM urged to shut down windfall tax ‘speculation’ as candidates visit north-east Scotland
The next Prime Minister has been urged to back the energy sector and shut down windfall tax "speculation" as Liz Truss and Rishi Sunak visit North-east Scotland today.
Windfall tax revisions risk ‘untold damage’ to energy security says offshore trade body
The UK’s offshore energy trade body has warned that further changes to “windfall” taxes on the oil and gas sector would reduce energy security and increase consumer costs.
Labour proposes extending windfall tax on oil and gas firms
Labour has proposed extending Britain’s windfall tax on oil and gas companies, saying the proceeds should be used to fund a total freeze on energy bills over the winter.
Neptune Energy sees windfall tax threatening investment
Neptune Energy CEO Pete Jones has warned that the UK’s windfall tax on oil and gas profits will threaten long-term investment in the sector, but have limited impact on the firm itself.
Truss rejects new UK windfall tax while Sunak’s open to the idea
Conservative leadership front-runner Liz Truss ruled out a fresh windfall tax on energy companies if she becomes prime minister, while her opponent Rishi Sunak vowed to find up to another £10 billion to help Britons pay for soaring power bills.
OEUK sends letter to ‘the next prime minister’ urging commitment to North Sea renewables
Offshore Energies UK (OEUK) has written a letter urging the future prime minister to prioritise reliable and cleaner energy produced in the UK.
Windfall Tax: No oil and gas firms meeting with Chancellor
There will be no oil and gas producers meeting with the Chancellor tomorrow, trade body OEUK has confirmed, despite reports to the contrary.
Equinor will pay £834m less in tax if Rosebank is approved, campaigners argue
An environmental group is claiming Equinor will pay millions of pounds less in tax if the North Sea Rosebank field gets the go ahead.
Choppy waters ahead for oilfield service businesses as the windfall tax creates uncertainty
Legislation for the energy profits levy passed through the House of Commons recently to the dismay of many in the industry.
North Sea tax receipts now top £22m per day according to new research
North Sea offshore operators and licensees have been paying an average of £22.1million in tax per day since the start of the year, even before the so-called windfall tax comes into force, new figures have shown.