van Beurden defends record Shell profits in face of soaring energy bills
Ben van Beurden has claimed high oil and gas prices aren’t the sole reason for Shell (LON: SHEL) posting record for profits for the second quarter in a row.
windfall tax
Shell position on Cambo ‘hasn’t changed’, despite reports to the contrary
There has been no change to Shell’s stance on Cambo and it still has no intention to progress the field, the company’s chief executive has confirmed.
Shell expected to report ‘another monster set’ of financials with Q2 results due tomorrow
Supermajor Shell (LON: SHEL) has been backed to replicate the eye-watering profits it reported earlier this year.
Kwarteng meeting with North Sea oil firms on windfall tax
UK business secretary Kwasi Kwarteng will meet with North Sea oil and gas producers today to discuss the government’s windfall tax.
BP UK boss says windfall tax won’t affect North Sea investment plans
BP’s UK head said the government’s energy profits levy was unlikely to affect its North Sea investment plans, following confirmation that the measures would cease in December 2025.
UK oil and gas lobby group disappointed as windfall tax becomes law
The UK’s main lobby group for the oil and gas industry urged ministers to work with the sector to minimize the the impact of a new windfall tax on profits.
Shell looks to share more of its huge profits
Shell (LON: SHEL) is seeking to redistribute more of its huge profits off the back of soaring energy prices.
North Sea decom could take back seat until 2025 as operators grapple with EPL
Just as thing seemed to be looking up for the sector, decommissioning could be pushed to the back of the queue once again.
Windfall tax on oil and gas profits takes a step closer to becoming law
The Government's windfall tax on the soaring profits of oil and gas companies has taken a step closer to becoming law.
Utility shares rise as UK spares firms from windfall tax
Shares in UK utilities climbed after the government said it wouldn’t extend a windfall tax to power generators.
Electrification, carbon storage and hydrogen could create 26,000 UK jobs by 2030, study finds
A trio of emerging low carbon technologies could generate almost 30,000 new UK jobs by 2030, according to research by Robert Gordon University (RGU).
UK to set out plans next week on electricity generator windfall tax
The UK plans to announce in the coming days whether it will extend a windfall tax to electricity generators -- a difficult task as the government tries to help consumers struggling with inflation while also supporting renewable energy.
North Sea bosses seek urgent windfall tax meeting with new Chancellor Zahawi
North Sea industry leaders are seeking an urgent meeting with the new Chancellor, Nadhim Zahawi, on the windfall tax.
Decommissioning rebates exempt from windfall tax as government throws industry a bone
Tax repayments related to losses incurred by removing North Sea assets will not be touched by the energy profits levy.
New Chancellor Nadhim Zahawi must battle rising prices and calls for tax cuts
Nadhim Zahawi inherits a raft of cost-of-living problems following the resignation of Rishi Sunak as chancellor.
UK Windfall tax: a closer look
It is expected that the legislation introducing the new energy profits levy – better known as the windfall tax – will pass through parliament later this month, before taking effect from when it was originally announced 26 May.
So, what came out of the discussion with Sunak?
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.
Exclusive: Deirdre Michie to step down as CEO of trade body OEUK
Industry leader Deirdre Michie is to step down as CEO of the trade body Offshore Energies UK (OEUK) after nearly a decade at the helm.
High oil price and windfall tax ‘threaten’ decommissioning targets, report warns
New research has warned that high oil prices, coupled with the UK Government’s windfall tax, could “pose a threat” to North Sea decommissioning targets.
Serica Energy looking outside the UK for M&A deal
North Sea operator Serica Energy (LON: SQZ) has said it is “increasingly” exploring M&A opportunities outside of the UK.
Oil companies exploring potential for legal challenge against windfall tax
Leading energy lawyers say clients have enquired whether the government’s windfall tax would withstand legal challenges, as the consultation process draws to a close.
Baron Oil says outlook ‘transformed’ for Dunrobin project in UK North Sea
Baron Oil (AIM: BOIL) has said economics on its Dunrobin project in the North Sea have been “transformed” with the surge in commodity prices and new UK Government policies.
Oil industry says ‘ball is in the Chancellor’s court’ after meeting Sunak in Aberdeen
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.
Supply chain event proves Equinor’s commitment to £4.5bn Rosebank project, says North Sea boss
Equinor’s North Sea boss has reinforced the Norwegian energy giant’s commitment to developing the Rosebank project.
Oil bosses seek windfall tax guarantees from Rishi Sunak in high-power Aberdeen meeting
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.