The newly elected first minister, Humza Yousaf, chose to make his second official visit as head of the Scottish Government to view the transformational South Harbour development in Aberdeen.
As illustrated in French economist Frederic Bastiat’s 'parable of the broken window', it is often 'that which is not seen' that can be of greatest importance.
The chief executive of Harbour Energy (LON: HBR) said another suite of bumper results will enable the company to reduce its net debt to zero in a matter of months, but was critical of the impact of the government’s windfall tax.
The UK’s offshore energy trade body has warned that further changes to “windfall” taxes on the oil and gas sector would reduce energy security and increase consumer costs.
North Sea offshore operators and licensees have been paying an average of £22.1million in tax per day since the start of the year, even before the so-called windfall tax comes into force, new figures have shown.
BP’s UK head said the government’s energy profits levy was unlikely to affect its North Sea investment plans, following confirmation that the measures would cease in December 2025.
It is expected that the legislation introducing the new energy profits levy – better known as the windfall tax – will pass through parliament later this month, before taking effect from when it was originally announced 26 May.
Leading energy lawyers say clients have enquired whether the government’s windfall tax would withstand legal challenges, as the consultation process draws to a close.
Oil and gas industry executives will seek clarity on three key points from Chancellor Rishi Sunak in a high-level meeting about the windfall tax in Aberdeen on Thursday.