New analysis by Wood Mackenzie has forecast the financial impact of Labour's windfall tax proposals, warning that key CCS and wind projects could grind to a halt.
The former CNOOC boss said "there will be a lot of change between now and the general election" following Labour's windfall tax policy.
Humza Yousaf said he'd maintain the status quo on the windfall tax in Aberdeen following Labour's controversial plans.
Scotland's First Minister has branded Labour a "wolf" in a red rosette as he rejected the party's plans to increase the windfall tax.
SNP leader Humza Yousaf is set to insist his party will strongly oppose Labour’s controversial plans to increase the windfall tax on oil and gas firms.
Trade body Offshore Energies UK (OEUK) will hold “emergency summits” with operators and the supply chain this week over proposals unveiled by Labour to extend the windfall tax if elected.
The Scottish Labour leader insisted in his conference speech that the move is vital due to energy firms making huge profits as he strongly criticised the SNP.
No government - Labour or Tory - would allow such a large number of jobs to go; not now, not ever, writes Aberdeen's Councillor Malik.
More than 700 concerned voices, including Aberdeen business tycoon Sir Ian Wood, have signed the letter demanding a U-turn.
Roses are red, hydrogen is blue, celebrate with a Valentine’s day EVOL podcast for two.
“There are more and more comparisons to be drawn” between the large-scale miner's strikes of the 1980s and the effects of Labour’s windfall tax hike, unions say.
20,000 job losses predicted as “best case scenario” under Labour plans.
Oil and gas bosses from across the North Sea have decried Labour as "clueless" following its proposed windfall tax hike.
Energy representatives have asked for a ‘holistic’ approach to energy policy and tax incentives in the upcoming Budget, which would help guide the UK to net-zero.
Independent councillor Barney Crockett quit the Labour Party last year over its North Sea strategy.
Apache, CNOOC and Equinor will see hundreds of millions of dollars slashed.
Keir Starmer was up in Aberdeen recently but did he listen to the industry?
Labour will introduce a “proper windfall tax” on the oil and gas industry if it comes to power at the election, including a rate increase and cutting investment allowances.
“The first target has an NPV of $4bn, for a $30mn well. We know it’s frontier exploration and the chance of success is maybe 20%, but it stands up.”
“What are you doing about the Energy Profits Levy? Because clearly that’s driving out investment here in the UK.”
Tax incentives associated with the Energy Profits Levy may have encouraged Shell to move its Victory plans forward.
Treasury documents released last week could spell good news for North Sea decommissioning and CCUS investment, but tax uncertainty remains.
Without the government’s new Energy Profits Levy, Shell said it wouldn’t have had to pay corporate tax in the UK.
While support for new North Sea oil and gas has been welcomed, the energy sector has called for a drop in windfall taxes and greater incentives for low-carbon investment ahead of the Chancellor’s impending budget.
Aberdeen and Grampian Chamber of Commerce has called for a new body independent of government to be set up to oversee UK energy security and the transition to net zero.