Proceeds from the UK Government’s windfall tax are expected to top £7 billion this year, about £2bn more than originally thought.
It’s a couple of months since I suggested the energy crisis would be as big as Covid and thereby demand the same scale of response. It wasn’t a very fashionable thought but perceptions have moved rapidly – everywhere, except where it matters most, in government.
Siemens Energy says delivering energy security and a net zero electricity system by 2035 must be a ‘national endeavor’ ahead of today's Parliamentary Reception.
Liz Truss will be the UK’s new prime minister after beating Rishi Sunak to take over the Conservative party.
First Minister Nicola Sturgeon has said there should be another windfall tax on the North Sea, and other firms making similar profits.
Rishi Sunak has ruled out freezing the UK’s energy price cap if he becomes prime minister, while his rival Liz Truss warned against “throwing money” at a short-term fix for the looming winter bills crisis.
Rishi Sunak and Liz Truss set out their plans to halt another independence referendum, but clashed over competing Tory policies to sort out a cost-of-living crisis.
You know what they say? Be careful what you wish for.
A vast majority of Scots say they are in favour of the UK producing its own oil and gas rather than relying upon imports from overseas, according to a poll published as the two who are competing to be elected the UK’s next Prime Minister come to Scotland.
The next Prime Minister has been urged to back the energy sector and shut down windfall tax "speculation" as Liz Truss and Rishi Sunak visit North-east Scotland today.
Labour has proposed extending Britain’s windfall tax on oil and gas companies, saying the proceeds should be used to fund a total freeze on energy bills over the winter.
Conservative leadership front-runner Liz Truss ruled out a fresh windfall tax on energy companies if she becomes prime minister, while her opponent Rishi Sunak vowed to find up to another £10 billion to help Britons pay for soaring power bills.
Offshore Energies UK (OEUK) has written a letter urging the future prime minister to prioritise reliable and cleaner energy produced in the UK.
The two candidates vying to become the next prime minister have been urged to listen to the voice of industry over the UK’s critical energy future.
Rishi Sunak pledged to scrap value added tax on all domestic energy bills for the next year if he becomes UK prime minister, a move his leadership rival, Liz Truss, criticized as a U-turn.
Every UK prime minister expects to face challenges. Few would imagine that they might have to spend billions of pounds to make sure people don’t freeze in their homes during winter.
North Sea industry leaders are seeking an urgent meeting with the new Chancellor, Nadhim Zahawi, on the windfall tax.
Tax repayments related to losses incurred by removing North Sea assets will not be touched by the energy profits levy.
Nadhim Zahawi inherits a raft of cost-of-living problems following the resignation of Rishi Sunak as chancellor.
Last month, Chancellor Rishi Sunak flew into the Granite City - home of the UK’s offshore energy industry. He was there to listen directly to the concerns put forward by industry leaders on the Government’s proposed energy profits levy.
Oil industry leaders have said the “ball is in the Chancellor’s court” to now address their concerns ahead of key windfall tax legislation being published next month.
Equinor’s North Sea boss has reinforced the Norwegian energy giant’s commitment to developing the Rosebank project.
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.
Harbour Energy (LON: HBR) has issued a letter to Chancellor Rishi Sunak, it has been reported, slamming the “seriously flawed” windfall tax.
Environmental campaigners have made the Treasury their latest target in response to the recent approval of a North Sea gas field.