The Treasury has published the draft windfall tax law – and wants your thoughts
The Treasury has opened the door for feedback on the North Sea windfall tax as draft legislation has today been published.
windfall tax
‘Put-off’ investors and shelved projects: The view from London on the North Sea windfall tax
City of London analysts have given their verdicts on the impact of the government’s windfall tax on North Sea oil and gas producers.
Equinor dismisses ‘speculation’ of windfall tax threat to £4.5bn Rosebank project
Equinor has dismissed "speculation" suggesting it has “threatened to abandon” the £4.5bn Rosebank project due to the UK windfall tax.
Harbour Energy launches $200m share buyback scheme following windfall tax hit
Harbour Energy (LON: HBR) has launched a $200m share buyback scheme, a move which could boost investor confidence following a windfall tax hit last month.
Hurricane Energy hits out at ‘unhelpful’ lack of windfall tax detail
Hurricane Energy has branded government’s windfall tax as “unhelpful” particularly due to its lack of public details.
Cost of new North Sea Pilot oilfield ‘could be reduced by 75%’ by tax incentives
Costs for a planned new North Sea oilfield could be shaved by 75% with new tax incentives, the firm behind it has claimed.
Shell boss touts £100m UK jobs investment as part of 2030 growth plans
Shell intends to grow its share of UK oil and gas supplies and invest £100m in skills to support 15,000 energy transition jobs by 2030 as part of its £25 billion investment plans.
Power firm windfall tax could ‘jeopardise’ cutting bills and carbon – Energy UK
A windfall tax on the UK's power generators might push up household energy bills in the long term, the industry's trade body has warned.
Kwarteng pays post-windfall tax visit to Shell event hailing £25bn spending plans
Kwasi Kwarteng has paid a visit to a major Shell conference hailing the firm’s UK spending plans, two weeks after the government announced a windfall tax on the industry.
Left without a scooby? Industry needs certainty, windfall tax or not
Sanjoy Sen sets out the case for certainty in the North Sea taxation regime in the wake of last month's windfall tax announcement.
Centrica ‘will not challenge windfall tax’
British Gas owner Centrica will not launch a legal bid to challenge the Government's new windfall tax, its chairman said on Tuesday.
Government told to ensure North Sea investment allowances include platform electrification
The UK Government has come under pressure to ensure that platform electrification is included in the North Sea investment relief programme.
Windfall tax to ‘fall away’ if oil goes below $70, says Chancellor
Chancellor Rishi Sunak has said the government’s windfall tax measures are likely to fall away if oil prices sink below $70 per barrel.
Woodside boss warns profits levy is a ‘red flag’
The head of the newly merged Woodside Energy Group said the UK government’s windfall tax is a “red flag” that suggests potential investments in the North Sea carry more risk.
Serica responds to ‘significant fall’ in share price following windfall tax
Serica Energy has pressed the importance of stable fiscal policy after news of the UK Government’s windfall tax knocked around 20% off the company’s share price.
Windfall tax: Politicians should ‘rise above the calls of the election timetable’
The UK Government’s decision to impose a windfall tax on industry is disappointing and presents challenges to a sector that is focussed on meeting the UK’s energy needs for decades to come.
Ithaca Energy could bring planned North Sea spend forward in response to windfall tax measures
Ithaca Energy said the government's new windfall tax could accelerate the timeline for planned North Sea capex as the company looks to cash in on the investment relief.
Windfall tax tipped to hit Ithaca Energy and Harbour Energy particularly hard
An American credit rating agency has named Ithaca Energy as the operator likely to be hit hardest by the UK Government’s oil and gas windfall tax.
Windfall tax: What is the Treasury’s so-called ‘normal’ oil price?
As industry grapples with the newly-imposed windfall tax, questions linger on the government's view of a so-called "normal" price for oil and gas.
UK set for record tax revenue from North Sea – with or without windfall tax
The UK Treasury is set to collect record revenue from oil and gas this year - with or without a windfall tax.
Windfall Tax deals blow to North Sea firms EnQuest, Serica and Harbour Energy
Researchers have set out the near-term impact on North Sea players from the windfall tax, while EnQuest reportedly is looking elsewhere to invest.
Lack of renewables incentive is critical failure in government’s windfall tax scheme
Yesterday's announcement by Sunak was far from destructive for the North Sea oil & gas industry given the generous projects investment tax relief, but it fails, as it turns out, in at least one critical way.
Shell changes tune on windfall tax, says it will increase ‘uncertainty’
Oil giant Shell (LON: SHEL) has backtracked on its previous optimism about the UK Government’s new energy profits levy.
Watch: Boris Johnson says UK has to keep North Sea oil and gas flowing
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.
Deirdre Michie: Supporting consumers is essential – damaging the UK energy industry is no way to do it
The Chancellor’s Energy Profits Levy, announced yesterday, is a disappointing and worrying development for industry. The shockwaves will undoubtedly be felt in offshore energy jobs and communities for years to come.