Windfall tax continues to hit wider Aberdeen economy
Businesses across the north-east of Scotland have raised concerns about the continued impact the windfall tax is having on the region's employers.
Energy Profits Levy (EPL)
Question time for North Sea debate events launched
The trade body representing the offshore energy industry including the oil and gas sector has launched a series of debate events across the UK.
EPL end date: ‘We need to make the changes now,’ says North Sea boss
The UK stands to miss out on investment from oil firms if EPL changes are delayed to 2030, the CEO of Anasuria Operating Company argued.
Harbour Energy pays 108% UK tax
The North Sea's largest independent operator said it is paying more to the UK tax man than it earns as it revealed its latest accounts for 2024.
Calls to stop windfall tax in wake of Trump trade war
AGCC calls for the UK to end the windfall tax on North Sea oil and gas, but environmental group Uplift criticises industry "profiteering".
UK gas policies could lead to increased emissions from imports, report finds
Reduced North Sea investment as a result of UK government policy could lead to millions of tonnes of additional CO2 emissions from imports, according to a report.
Work with the energy supply chain or risk driving it away
While the new year is intended to represent the opportunity for new beginnings, there is unfortunately no shaking the clouds over our domestic supply chain.
Serica relief as North Sea tax regime offers ‘opportunities’
Independent North Sea producer Serica Energy (AIM: SQZ) welcomed changes made to the UK's offshore oil and gas tax regime in its most recent update.
Apache to cease North Sea production by 2030 due to windfall tax
North Sea operator Apache (NYSE:APA) has said it will cease operations in the UK by the end of 2029, blaming the impact of the windfall tax.
Equinor announces $30 million 2023 UK tax bill as rates rise
Norway’s state-owned oil company Equinor forked out $30 million in UK taxes in 2023, and now finds itself spending more than it is earning within the country.
UK oil and gas firm looks to Middle East amid North Sea uncertainty
For many North Sea oil and gas supply chain firms, attending the annual ADIPEC conference in the Middle East has been a key part of efforts to expand internationally.
Shell reveals another shareholder boon on $6 billion quarterly profit
Shell (LON:SHEL) unveiled a better-than expected $6 billion (£4.6bn) profit and another investor-pleasing buyback on the back of an increase in gas production.
‘Torturing’ budget serves as ‘devastating blow’ to oil sector, says BRINDEX
Changes to the energy profits levy brought in under the UK government's budget serve a "devastating blow" to oil firms, the chairman of a body representing independent oil and gas producers has warned,
Windfall taxes and government policy: destroying Aberdeen and the north-east
There is only one phrase that can possibly be used to describe the Westminster government’s approach to oil and gas – ideological zealotry, bordering on madness.
Budget: don’t squander the SME talent leading the energy transition
If the country's top producers – and earners – are open to jumping ship over the impending fiscal regime, imagine the impact changes will have on the countless SMEs that make up the supply chain?
Stick or Twist: The North Sea operators who are warning they will leave the UK
Read our compilation of the UK oil and gas firms who wave made their views clear as Labour’s first budget looms.
North Sea investment allowance changes could have greater impact than EPL raise
University of Aberdeen research warns of potential impact from proposed EPL changes, but Treasury says it is "right that the oil and gas sector contributes" to UK energy transition.
Why the EPL is putting both our North Sea industry and climate change goals at risk
The Autumn Budget is a chance for the government to make a bold statement on the energy transition.
UK could extract further £10bn from North Sea under right fiscal conditions, WoodMac says
The UK could unlock up to £10 billion of North Sea oil and gas pre-tax value from existing assets under the right fiscal regime, a new report has found.
Analysts warn of £4.9bn shortfall in Chancellor’s green plan
Analysts have warned of a potential £5 billion funding hole in Chancellor Rachel Reeves’ proposals to finance the green prosperity plan.
Former Oil and Gas UK chief’s fears of North Sea ‘wholly premature death’
The former head of Oil & Gas UK has accused politicians of “gross negligence” towards the offshore industries and their workers.
UK ‘not the ideal place’ to invest in new oil and gas, Deltic says
Deltic Energy said it will focus on core UK assets like the Selene prospect while pivoting its attention to international opportunities.
Windfall tax concern ‘looms large’ over north-east businesses
The windfall tax on the North Sea energy sector remains a key concern for north-east businesses ahead of this month’s budget, according to a survey.
North Sea confidence plummets to new low ahead of budget
The results of a new survey have prompted Aberdeen and Grampian Chamber of Commerce (AGCC) to propose a five point plan to Chancellor Rachel Reeves as she prepares to unveil the new UK government's budget at the end of the month.
Hopes rise for North Sea windfall tax “successor”
Analyst Wood Mackenzie believes "where there’s a will, there’s a way" in achieving a consensus on an improved system of taxation despite differences of opinion between government, industry and North Sea investors.