Windfall ‘has long gone’ Serica boss says as earnings fall
Lower commodity prices left Serica Energy’s earnings lower in 2023 compared to the previous year, prompting the firm's chairman to hit out at the windfall tax.
windfall tax
‘We were ready to go’: North Sea firm was ‘days away’ from issuing contracts when Labour announcement sparked job cuts
The CEO of a North Sea gas company has said his team was “days away” from issuing key contracts when Labour’s promise of a “proper windfall tax” sparked job cuts.
‘We’ve had to let so many people from the project go’: North Sea firm making windfall tax job cuts
A North Sea player has unveiled a raft of job cuts due to fiscal uncertainty in the UK over the windfall tax.
Labour’s EPL plans to have ‘negative impact on the wider supply chain’
There has been significant attention paid over the past few months to oil and gas taxation in the UK, following Labour’s announcement regarding its intentions for oil and gas taxation, should it form the next UK government.
EPL extension: ‘As disappointing as it was unwise’
The UK Spring Budget took place in the House of Commons on March 6, despite most fiscal budget changes already appearing in the media well in advance.
The UK Budget in its economic context
The UK Budget should be assessed in relation to its macroeconomic (aggregate) effects and in relation to its impact on individual elements (i.e. microeconomic effects).
Douglas Ross urged to whip Scottish Tory MPs against windfall tax extension
Douglas Ross has been warned he will be Scottish Tory leader in “name only” if he does not whip his MPs to vote against a windfall tax extension.
Uncertainty for new North Sea project over windfall tax
Hartshead Resources warns of the risk of a "flight of capital to other jurisdictions" due to Labour Party comments on the windfall tax.
Windfall tax extension ‘surprising choice’ for UK Govt – Wood Mackenzie
"A tax that is now expected to have a seven-year lifespan under stable prices does not abide by most definitions of a ‘windfall’ tax."
Jeremy Hunt says Scottish oil and gas industry is ‘loser’ of the budget
The Chancellor has argued the case for extending the levy, despite industry arguing that windfall conditions have gone.
Harbour Energy: UK tax regime wipes $500m from North Sea giant’s earnings
However, the firm still managed to return hundreds of millions to shareholders.
Starmer must beware the ghost of Thatcher
The 1984-85 miners’ strike has once again hit the headlines, despite ending 40 years ago.
Red-faced Tory leader Douglas Ross hung out to dry as windfall tax extension announced
The Scottish Tory leader 'fought as hard as he could' against the extension of the levy - but it fell on deaf ears.
‘Disappointing blow’: Jeremy Hunt extends North Sea windfall tax by another year
Brindex, the association of independent North Sea producers, say loss of British jobs will be "inevitable result".
Scottish Conservative leader Douglas Ross calls on Chancellor not to extend windfall tax
Tory leaders reportedly feared Douglas Ross would resign in protest over rumoured windfall tax measures
Labour windfall tax proposals: a summary
Earlier this month, Labour announced its revised green investment plan. While the wider media focus has been on the reduction of the previous £28bn annual target, the announcement also contained potentially significant proposals regarding the taxation of UK upstream oil and gas.
UK North Sea acquisitions are Waldorf’s focus for 2024
Waldorf Production has outlined its goals for the coming financial year, including its UK M&A ambitions.
Exploiting our potential – Scotland’s Final Frontier
A few weeks ago, Holyrood Sources – a podcast producer – held a live meeting in Aberdeen with three politicians and some 300 people from the energy sector.
North Sea firms keenly await Spring Budget clarity on windfall tax
Reports suggest Chancellor Jeremy Hunt is planning to extend the windfall tax on North Sea oil and gas firms.
Are Labour’s windfall plans really a ‘death blow’?
It was all a bit odd at the Scottish Labour conference last month. A few days earlier, the oil and gas industry was shrieking outrage at Labour for proposing a windfall tax on gargantuan profits.
OEUK’s manifesto aims to avoid ‘passing on our carbon problem’
Offshore Energies UK has this month launched its manifesto for the general election with a list of essential proposals for the incoming government as we ramp up the homegrown energy transition and the drive for net zero.
Major parties in ‘rush to the bottom’ on UK energy policy, says Kistos’ Andrew Austin
“Each time we think we have certainty, someone moves the goalposts and that's not helpful.”
‘Confused’: Rishi Sunak refuses to shoot down Tory windfall tax extension claim
The prime minister was asked to rule out concerns the Chancellor is teeing up a longer tax levy – despite Tories slamming Labour for suggesting a higher rate.
Hunt considers extending UK windfall tax on oil and gas at Budget
Chancellor of the Exchequer Jeremy Hunt is weighing proposals to extend the UK’s windfall tax on the profits of oil and gas companies as one of several revenue-raising options under consideration to help finance personal tax cuts at his budget next week.
Aberdeen firms tell Jeremy Hunt to scrap windfall ‘supertax’
The UK Chancellor is facing calls to remove the controversial tax on oil and gas giants ahead of his spring budget next week.