BP reports underlying profits of £4.9bn despite impact of Rosneft exit
“Exceptional” oil and gas trading meant BP (LON:BP) raked in healthy profits in the first three months of 2022.
windfall tax
BP, Shell to count cost of Russian exit but record cash flow set to continue
Next week will see supermajors BP and Shell publish results for one of the most turbulent quarters in recent memory, as they each look to reconcile continued bumper cash flows with the write-down of Russian investments.
Energy secretary delivers blunt message to those seeking end to North Sea oil and gas
Energy secretary Kwasi Kwarteng has insisted the UK Government will not bend to the will of activists who “naively want us to extinguish production” of oil and gas in the North Sea.
‘Use oil and gas tax windfall to support north-east’ says Aberdeen MP Stephen Flynn
Rishi Sunak has a “moral duty” to use soaring tax revenues from North Sea oil and gas firms to boost Scotland’s energy sector, an Aberdeen MP claims.
Sunak tells Mumsnet: ‘Nothing is ever off the table’ on oil and gas windfall tax
Rishi Sunak has told the internet forum Mumsnet that “nothing is off the table” when it comes to an oil and gas windfall tax.
EV Private Equity on impact investing and the energy transition
EV Private Equity co-founder Helge Tveit explains the company’s philosophy of impact investing, and why the energy transition provides greater opportunities.
North Sea dodges windfall tax – but Treasury’s oil and gas receipts head for highest in over a decade
The North Sea has dodged calls for a windfall tax, but Treasury receipts from the sector are set to surge to their highest in over a decade.
Spring statement: Key demands facing Rishi Sunak ahead of mini-budget
Chancellor Rishi Sunak will come under pressure to offer more support to working families in financial pain as he makes his spring statement on Wednesday.
Former BP CEO Lord Browne says windfall tax is ‘justifiable’
Calls for a North Sea windfall tax “are justifiable” according to the former CEO of oil giant BP, Lord John Browne.
North Sea windfall tax ‘absolutely the wrong thing to do’ says Scottish Secretary
The Scottish Secretary has said an oil and gas windfall tax would be “absolutely the wrong thing to do” ahead of the Chancellor's Spring Statement next week.
Windfall tax? Here’s the Chancellor’s Spring Statement options next week
An oil and gas windfall tax is one of several options on the table for the Chancellor's UK Spring Statement next week.
SNP calls for cross-sector windfall tax on ‘excess profits’
The SNP has called for a broad-based windfall tax on ‘excess profits’ of major companies, including the energy sector, to help ease the cost of living crisis.
North Sea windfall tax could ‘heap supply crisis on top of price crisis’
The UK’s leading oil and gas trade body has warned a windfall tax on the North Sea could cause “irreparable damage” to the industry.
‘Six million miles away from Just Transition’: Shell CEO pay surges to 57x more than average employee
Shell CEO Ben van Beurden has taken home a whopping £6.1 million pay package following an “impressive financial performance for the oil giant”.
Big Oil should spend windfall billions on transition, not dividends, says former Wood Group CEO
Oil giants should spend their billions of windfall profits on transition, not shareholder returns, according to the former CEO of Wood Group.
Cost of living crisis: Former oil and gas worker forced to go without food
A former oil and gas worker says soaring energy bills and the cost of living crisis means he has to go without food and showers just to get by.
OGA chairman says North Sea windfall tax will not solve energy crisis
Oil and Gas Authority (OGA) chairman Tim Eggar has added his name to the list of those opposed to a windfall tax on North Sea companies.
Nicola Sturgeon: Oil and gas windfall tax could ease household cost of living crisis
Big energy companies should be paying more to help families deal with the cost of living, the first minister claimed.
Oil and gas windfall tax: Why are people calling for it, and what could it do to jobs and bills?
Oil and gas giants announced bumper profits, prompting renewed calls for a windfall-tax to help those struggling to pay rising energy bills.
Equinor hails ‘record’ earnings for Q4 2021 as European energy prices skyrocket
Equinor has hailed “record adjusted earnings” in Q4 of 2021 as European energy prices reached unprecedented levels.
Oil and gas still part of UK energy mix in move to net zero, says Johnson
Oil and gas will continue to play an important role in the UK's energy supply as the country transitions to net-zero carbon emissions, Boris Johnson has said.
BP chief opposes windfall tax: ‘The UK needs more gas, not less, right now’
The chief executive of BP has argued a windfall tax on North Sea operators could hurt investment and production of gas in the region.
BP fuels calls for windfall tax as oil giant posts £11 billion profits in 2021 results
Oil giant BP has pledged to spend double what it earns in the UK in the coming years - but huge profits in its 2021 results and pressure on consumers have strengthened calls for a North Sea windfall tax
CEO van Beurden ‘not convinced’ by windfall tax as Shell profits surge
Shell chief executive Ben van Beurden says a windfall tax on the profits of North Sea companies is unlikely to ease the problems caused by lofty gas prices.
OGUK calculates £3bn ‘bonanza’ for UK Treasury from surging gas prices
UK oil and gas companies will contribute billions more to the country’s coffers whether a windfall tax is introduced or not.