Windfall tax measures could ‘accelerate’ major UK oil projects like Cambo and Rosebank
Windfall tax measures announced by Rishi Sunak could "accelerate" major UK oil and gas projects like Cambo and Rosebank, according to experts.
windfall tax
BP to review investment plans following windfall tax, Shell eyes relief
Big Oil has reacted to the news that Chancellor Rishi Sunak has finally opted to plough ahead with a windfall tax on North Sea profits.
UK could still foist windfall tax on electricity firms’ booming profit
A windfall tax on electricity generators making “extraordinary profits” is still an option, UK Chancellor of the Exchequer Rishi Sunak said Thursday after slapping a similar levy on oil and gas companies.
‘A proportionate response’ – politicians react to oil and gas windfall tax
Plans to enact a windfall tax on the profits of the oil and gas companies have drawn a mixed reaction from political figures.
Industry slams oil and gas windfall tax which will send ‘shockwaves for years to come’
Rishi Sunak has announced a multibillion-pound windfall tax on oil and gas, which the industry has slammed as sending "shockwaves" on jobs, investment and communities.
‘The North Sea is open for business’ – energy chief delivers blunt response to those wanting to axe oil and gas
The industry regulator won’t be swayed by “hysterical assertions” from people who “simply don’t understand” the intricacy of the UK’s energy mix.
Windfall tax fundamentally wrong but industry must ‘suck it up’
A windfall tax on energy profits will send the wrong signal to investors but looks increasingly inevitable, according to a senior partner at KPMG in Aberdeen.
Windfall tax to be announced ‘as soon as Thursday’
UK Government plans to impose a windfall tax on energy companies are expected to be brought forward and announced “as soon as Thursday”.
UK’s largest oil and gas producer warns windfall tax means ‘fewer projects will be sanctioned’
Harbour Energy chief executive Linda Cook joined industry heads in calling for a “stable” tax environment, and warned of the potential consequences for future North Sea investment should a windfall levy be imposed.
Reports – Ministers could include electricity generators in windfall tax plans
Westminster could be poised to hit electricity generators with a windfall tax, in addition to North Sea oil and gas firms.
Harbour, Eni to invest more than £8bn in UK as windfall tax looms
Harbour Energy and Eni are set to invest more than £8 billion in the UK over the next four years, as the sector continues to bat away calls for a windfall tax on energy profits.
Government will not rule out windfall tax despite opposition from ministers
The Government has not ruled out imposing a windfall tax on energy companies despite strong opposition from several ministers.
Windfall tax could undermine net-zero investments, trade body warns
Billions of pounds of investments marked for UK net zero infrastructure could be diverted if politicians keep threatening to impose windfall taxes, the head of the offshore sector's trade body will tell conference attendees next week.
OEUK CEO writes to energy secretary to set out North Sea’s contribution to UK’s coffers
The chief executive of Offshore Energies UK has reinforced the need for a predictable fiscal regime in a letter to the energy secretary.
North Sea windfall tax plans voted down in Commons
Plans to impose a windfall tax on North Sea oil and gas firms have been voted down in the House of Commons, despite garnering support from both sides of the political aisle.
Tory MP brands oil bosses ‘new oligarchs’ during Westminster debate
A Conservative MP branded oil and gas bosses the “new oligarchs” during a debate in Westminster on Tuesday.
North Sea chiefs make plea for ‘stability’ ahead of crucial windfall tax vote
Senior figures in the energy industry have underlined the need for a “stable regime” ahead of a key vote in Westminster today.
Businesses blast ‘economically illiterate’ North Sea windfall tax ahead of vote
A windfall tax on North Sea oil and gas firms would be “economically illiterate” and could “perversely” drive up the domestic costs of energy, MPs have been told ahead of a key vote today.
BP boss says UK windfall tax would challenge energy investment
A windfall tax could crimp investment in the UK’s energy system, said the chief executive of BP.
Tesco boss says oil giants would be unfazed by windfall tax, industry expert warns it could create a precedent
The chairman of supermarket chain Tesco has added his name to the list of those calling for a windfall tax on the profits of oil and gas companies.
Michael Gove: Aberdeen residents ‘don’t back oil and gas windfall tax’
Aberdonians want oil and gas to continue without a tax on excess profits while work continues on the shift to greener energy, according to senior Tory Michael Gove.
Shell CEO says £25bn UK investments ‘have to make sense’ amid windfall tax calls
The chief executive of Shell has addressed whether the prospect of a North Sea windfall tax would damage the case for its planned £25bn investment in the UK.
Windfall Tax: North Sea firms to invest up to £250bn by 2030, says trade body
The leading offshore UK trade body has claimed North Sea firms could spend up to £250 billion domestically by 2030, “far greater” than any sum to be raised through a windfall tax.
Public E&Ps set for record-breaking $834bn profits this year, says Rystad
Public exploration and production (E&P) companies are set to achieve new record-high profits in 2022, amid bumper cash flows and low levels of reinvestment.
BP announces £18 billion investment for UK with North Sea at its heart
BP has announced plans to invest £18 billion in the UK energy system by 2030, with the North Sea at its heart, days after calls were once again raised for an oil and gas windfall tax.