Rishi Sunak has announced a multibillion-pound windfall tax on oil and gas, which the industry has slammed as sending "shockwaves" on jobs, investment and communities.
The chief executive of Shell has addressed whether the prospect of a North Sea windfall tax would damage the case for its planned £25bn investment in the UK.
The UK Government has announced plans for regulatory “accelerators" which it claimed could shave "years off” development time for new oil and gas projects in the North Sea.
A new report finds that new oil and gas licensing is not compatible with the UK’s climate commitments and targets set out by the Paris Agreement.
Shell chief executive Ben van Beurden says a windfall tax on the profits of North Sea companies is unlikely to ease the problems caused by lofty gas prices.
A High Court has thrown out a legal challenge claiming that the UK Government had acted unlawfully in its support for North Sea oil and gas.
A group of campaigners will see their day in court as they challenge the UK government over its plans for continued North Sea oil recovery, which they allege are in conflict with the country’s net zero goals.
Risks to marine life, including protected deep sea sponges and 400-year-old clams, have been “down played” by the operator of the Cambo oil field, according to environmental groups.
A group of climate campaigners have received approval to take the UK Government to the High Court over its North Sea oil plans.
UK government revenues from oil and gas taxes have plummeted by more than 70% due to effects of the recent price crash and decommissioning repayments.