The UK Government has launched a discussion paper on possible North Sea tax relief for late life assets.
Norway’s government won’t propose any tax incentives for oil companies to boost recovery at aging fields and marginal offshore discoveries before parliamentary elections later this year.
U.S. President Donald Trump’s controversial 20 percent tax on imports from Mexico to pay for a border wall would come as a second gift in less than a week for Canada’s oil patch.
Suncor Energy will get a $657million payout after a Canadian tax court ruled in its favor.
Australia is targeting the oil and gas industry for a tax review.
A dip oil tax revenue has led to Norway’s first budget deficit in 20 years.
The chief executive of Oil and Gas UK said the industry is still a "major tax contributor" after a report claimed some operators had links to tax havens.
North Sea operators are facing demands to explain alleged links to tax havens, according to reports.
At this stage, we cannot predict with any certainty the full tax impact arising from the UK’s exit from the EU.
Energy storage would gain access to the same tax incentives that helped make renewable energy the biggest new source of electricity in the U.S. last year under a bill introduced in the Senate.
What is the difference between Murray Smith, our Sales and Marketing Director based in Leicester, and Alan Fergusson our Employee Benefits Director based in Aberdeen?
Oil and gas companies have made significant in-roads into reducing the cost of production, but this is in the context of some of the highest operating costs in the world. With the oil price falling from the highs of above $100 a barrel in the summer of 2014, those cuts alone cannot go far enough and real fiscal stimulus is needed to drive renewed investment.
Oil and gas experts at international law firm Pinsent Masons are calling for a package of North Sea concessions to be unveiled by Chancellor George Osborne during this week’s Budget.
A tax loophole widely exploited to disguise employees as freelancers will be reformed in George Osborne’s Budget next week.
John Swinney has called on Chancellor George Osborne to slash tax for offshore companies amid fears the North Sea industry could be finished without emergency measures.
First Minister Nicola Sturgeon has said a “detailed action” plan will be presented to the Treasury before next month’s budget, including calls for further tax measures.
Southwestern Energy said it will reduce its headcount by more than 40% in the first quarter as it pauses its US drilling program to cope with the decline in oil price.
Noreco confirmed it would contest the latest ruling in its tax fight with the Danish government.
The drop in global oil price has meant a decrease in Norway’s overall tax revenue since last year.
As an industry we are going through a tough time – and all indications are pointing towards it staying that way. With the value of our product having plummeted to just over $30 a barrel and respected commentators suggesting it’s going to be lower for longer than we might hope, the fear is that it may get worse before it gets better as globally some $400 billion has been cut from E&P budgets.
Labour Leader Jeremy Corbyn has said he is “open-minded” on the issue of tax relief for the North Sea sector. He told Energy Voice's sister publication the Press and Journal yesterday he had not made a decision, adding: “I need to look at that.
Energy minister Andrea Leadsom has revealed "further fiscal measures" to support the oil and gas industry are "on the table" - prompting speculation of a positive announcement in the Budget.
Norway should give companies fiscal incentives to continue production from maturing oilfields in the North Sea as investment falls, Exxon Mobil XOM.N Production Vice President John Chaplin said on Wednesday. Unlike many other oil and gas producers, Norway, Western Europe's top oil producer, hands out licences for free and subsidises exploration and development costs, before imposing a 78 percent tax on production.
The Irish Government has revealed new draft laws which could see an increase in the maximum tax on oil and gas fields in the country from 40% to 55%. The reports in the Irish Time said a new petroleum production tax could be cast to ensure that discoveries made under future exploration licences will lead to an increased financial return for the State. The measure has been set out among other new steps in the Finance Bill.
Russia’s oil industry begins a critical battle over taxes this week. Losing may result in the first decline in crude production at the world’s largest energy exporter since 2008.