North Sea oil and gas producers hit back after Britain's decision to raise a windfall tax on the sector, warning the move risked jeopardizing investment in the ageing basin and could cut output just as Britain seeks to boost domestic production…
Shell said on Monday it will evaluate plans to spend up to 25 billion pounds in Britain over the next decade following the government's decision to increase a windfall tax on oil and gas producers.'We're going to have to evaluate each project on a case by case basis…
British finance minister Jeremy Hunt said on Thursday the government would increase a windfall tax on oil and gas firms and extend it to power generation firms as he seeks to raise money to plug a major hole in the public finances.Soaring oil and…
BP is paying more tax as it is making more profit, its UK head Louise Kingham told the Reuters Energy Transition Europe 2022 event on Wednesday.'It's right that (the government) should think about how they protect the most vulnerable and taxation is not for companies to determine…
British finance minister Jeremy Hunt is considering a big increase in a windfall tax on oil and gas firms and extending it to power generation firms as he tries to find ways to repair the country's public finances, sources said on Saturday.The…
UK's government is considering a plan to extend windfall taxes on oil and gas companies' profits, a government source said on Thursday, confirming a report in The Times which said the rate could be increased from 25% to 30% until 2028. The source…
Harbour Energy on Thursday forecast liabilities from the UK's windfall tax on energy companies to be about $400 million this year, and urged the government to 'carefully consider' the consequences of any increase or extension to the scheme. The…
U.S. President Joe Biden on Monday called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or pay a higher tax rate, as he battles high pump prices with elections coming in a week. In remarks at the White House…
Neptune Energy could shift investments away from the Netherlands if they cannot be offset against a new windfall tax the Dutch government plans to impose in response to soaring energy prices, the oil and gas producer warned on Thursday. Neptune…
Norway's center-left government said on Thursday it planned to raise taxes on the country's oil and gas industry by 2 billion Norwegian crowns ($191 million) in 2023 by partly reversing an incentive package introduced during the coronavirus pandemic…
Lime Petroleum, a subsidiary of Rex International Holding, has agreed to buy a 10 percent stake in the Yme oil field in the North Sea, offshore Norway, from Kuwait’s KUFPEC. Rex said Lime would pay post-tax fee $68.053 million (about NOK 633 million)…
Malaysia's state energy firm Petronas is forecast to contribute to government coffers as much as 59 billion ringgit ($13.25 billion) this year, a cabinet minister said in a statement to parliament published Friday.Petronas contributions are a significant source of revenue for the federal government…
British lawmakers approved a 25% windfall tax on oil and gas producers in the British North Sea on Monday, which the government says will raise 5 billion pounds ($5.95 billion) in one year to help people struggling with soaring energy bills…
Britain's main oil and gas sector said it had secured some changes to a planned windfall tax but is seeking further allowances from the new Finance Minister Nadhim Zahawi, with the bill set to go through parliament on Monday.Former finance minister Rishi Sunak…
A new Black Sea offshore gas platform was officially launched off Romania on Tuesday and plans to extract gas despite risks posed by war in Ukraine, including mines detected in waters nearby.The project by Black Sea Oil & Gas (BSOG), controlled by U…
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