Tory MP brands oil bosses ‘new oligarchs’ during Westminster debate
A Conservative MP branded oil and gas bosses the “new oligarchs” during a debate in Westminster on Tuesday.
windfall tax
North Sea chiefs make plea for ‘stability’ ahead of crucial windfall tax vote
Senior figures in the energy industry have underlined the need for a “stable regime” ahead of a key vote in Westminster today.
Businesses blast ‘economically illiterate’ North Sea windfall tax ahead of vote
A windfall tax on North Sea oil and gas firms would be “economically illiterate” and could “perversely” drive up the domestic costs of energy, MPs have been told ahead of a key vote today.
BP boss says UK windfall tax would challenge energy investment
A windfall tax could crimp investment in the UK’s energy system, said the chief executive of BP.
Tesco boss says oil giants would be unfazed by windfall tax, industry expert warns it could create a precedent
The chairman of supermarket chain Tesco has added his name to the list of those calling for a windfall tax on the profits of oil and gas companies.
Michael Gove: Aberdeen residents ‘don’t back oil and gas windfall tax’
Aberdonians want oil and gas to continue without a tax on excess profits while work continues on the shift to greener energy, according to senior Tory Michael Gove.
Shell CEO says £25bn UK investments ‘have to make sense’ amid windfall tax calls
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.
Windfall Tax: North Sea firms to invest up to £250bn by 2030, says trade body
The leading offshore UK trade body has claimed North Sea firms could spend up to £250 billion domestically by 2030, “far greater” than any sum to be raised through a windfall tax.
Public E&Ps set for record-breaking $834bn profits this year, says Rystad
Public exploration and production (E&P) companies are set to achieve new record-high profits in 2022, amid bumper cash flows and low levels of reinvestment.
BP announces £18 billion investment for UK with North Sea at its heart
BP has announced plans to invest £18 billion in the UK energy system by 2030, with the North Sea at its heart, days after calls were once again raised for an oil and gas windfall tax.
BP reports underlying profits of £4.9bn despite impact of Rosneft exit
“Exceptional” oil and gas trading meant BP (LON:BP) raked in healthy profits in the first three months of 2022.
BP, Shell to count cost of Russian exit but record cash flow set to continue
Next week will see supermajors BP and Shell publish results for one of the most turbulent quarters in recent memory, as they each look to reconcile continued bumper cash flows with the write-down of Russian investments.
Energy secretary delivers blunt message to those seeking end to North Sea oil and gas
Energy secretary Kwasi Kwarteng has insisted the UK Government will not bend to the will of activists who “naively want us to extinguish production” of oil and gas in the North Sea.
‘Use oil and gas tax windfall to support north-east’ says Aberdeen MP Stephen Flynn
Rishi Sunak has a “moral duty” to use soaring tax revenues from North Sea oil and gas firms to boost Scotland’s energy sector, an Aberdeen MP claims.
Sunak tells Mumsnet: ‘Nothing is ever off the table’ on oil and gas windfall tax
Rishi Sunak has told the internet forum Mumsnet that “nothing is off the table” when it comes to an oil and gas windfall tax.
EV Private Equity on impact investing and the energy transition
EV Private Equity co-founder Helge Tveit explains the company’s philosophy of impact investing, and why the energy transition provides greater opportunities.
North Sea dodges windfall tax – but Treasury’s oil and gas receipts head for highest in over a decade
The North Sea has dodged calls for a windfall tax, but Treasury receipts from the sector are set to surge to their highest in over a decade.
Spring statement: Key demands facing Rishi Sunak ahead of mini-budget
Chancellor Rishi Sunak will come under pressure to offer more support to working families in financial pain as he makes his spring statement on Wednesday.
Former BP CEO Lord Browne says windfall tax is ‘justifiable’
Calls for a North Sea windfall tax “are justifiable” according to the former CEO of oil giant BP, Lord John Browne.
North Sea windfall tax ‘absolutely the wrong thing to do’ says Scottish Secretary
The Scottish Secretary has said an oil and gas windfall tax would be “absolutely the wrong thing to do” ahead of the Chancellor's Spring Statement next week.
Windfall tax? Here’s the Chancellor’s Spring Statement options next week
An oil and gas windfall tax is one of several options on the table for the Chancellor's UK Spring Statement next week.
SNP calls for cross-sector windfall tax on ‘excess profits’
The SNP has called for a broad-based windfall tax on ‘excess profits’ of major companies, including the energy sector, to help ease the cost of living crisis.
North Sea windfall tax could ‘heap supply crisis on top of price crisis’
The UK’s leading oil and gas trade body has warned a windfall tax on the North Sea could cause “irreparable damage” to the industry.
‘Six million miles away from Just Transition’: Shell CEO pay surges to 57x more than average employee
Shell CEO Ben van Beurden has taken home a whopping £6.1 million pay package following an “impressive financial performance for the oil giant”.
Big Oil should spend windfall billions on transition, not dividends, says former Wood Group CEO
Oil giants should spend their billions of windfall profits on transition, not shareholder returns, according to the former CEO of Wood Group.