Ahead of the two-year anniversary of the implementation of the United Kingdom’s windfall tax, Energy in Depth examines its continued negative impact on the North Sea oil and gas sector. As EID has previously discussed, the windfall tax (formally known as the Energy Profits Levy) was introduced in May 2022 and increased from its
Read More...Last Wednesday, UK Chancellor of the Exchequer Jeremy Hunt announced that the windfall tax on UK oil and gas firms will remain in place for another five years, until March 2029. The levy, which has already driven away investment and reduced production in the North Sea, was previously set to end in 2028. As EID
Read More...On the one-year anniversary of the United Kingdom’s windfall tax announcement, Energy in Depth examines the negative impact the tax has had on the North Sea oil and gas industry and continued investment. The policy, which effectively brings the total tax on oil and natural gas production in the United Kingdom to 75 percent, has
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