North Sea windfall tax forecast to raise £2bn more than originally thought
Proceeds from the UK Government’s windfall tax are expected to top £7 billion this year, about £2bn more than originally thought.
windfall tax
Jersey making ‘great progress’ in finding partner for GBA redevelopment
Jersey Oil and Gas is making “great progress” in its quest to find a partner for the Greater Buchan Area (GBA) redevelopment.
Liz Truss to make announcement on dozens of new North Sea licences: report
Liz Truss is to unveil a new swathe of North Sea licences, according to a news report, in an effort to boost domestic oil and gas production.
WoodMac: Windfall tax ‘wipes out’ 20% of North Sea corporate value
Wood Mackenzie researchers say the government’s windfall tax measures are likely to wipe around 20% off the value of North Sea operators on average, with the impact largely dependent on current tax and investment status.
Liz Truss rules out further windfall tax on North Sea operators
Liz Truss signalled support for the North Sea oil and gas industry during her first Prime Minister's Questions in the top job.
Wood to create 300 new UK jobs amid North Sea push
Energy services giant Wood is expecting to create around 300 new jobs thanks to a surge in activity in the UK North Sea.
Truss drafts £130bn plan to freeze UK energy bills
Incoming Prime Minister Liz Truss has drafted plans to fix annual electricity and gas bills for a typical UK household at or below the current level of £1,971 ($2,300).
Dutch eye windfall tax in $16 billion plan to ease energy costs
The Dutch government is said to be working on up to 16 billion euros ($16 billion) in funding to alleviate the burden of high energy prices and runaway inflation on its citizens.
Shell, IR35 and Rough: Liz Truss’ energy record as she’s named new PM
With her place as the UK’s next prime minister secure, Liz Truss will soon face a tidal wave of energy policy and security decisions likely to test her campaign promises.
‘We would love to see Rosebank electrify the region’ says Equinor boss
Equinor is hoping its £8 billion Rosebank project can “trigger” wider electrification across the West of Shetland region.
UK plans to cap renewables’ profits amid rising energy costs
The UK government plans to offer fixed-price contracts to existing renewable-energy producers as a way to blunt the impact of soaring power costs on households this winter, according to people familiar with the discussions.
Truss rules out new taxes, energy rationing in final UK pitch
Liz Truss ruled out introducing any new taxes or rationing of energy this winter if she becomes UK’s next prime minister, two eye-catching pledges in her final pitch to win the post.
Nearly one in four ‘won’t turn on heating this winter’ as energy bills soar
Nearly one in four adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.
Harbour CEO says group will be ‘net debt free’ within months
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.
North Sea giant Harbour Energy sanctions two new projects as profits surge
Harbour Energy (LON: HBR) has sanctioned two new oil and gas projects in the North Sea as its profits swell.
Sturgeon: ‘There should be another windfall tax’
First Minister Nicola Sturgeon has said there should be another windfall tax on the North Sea, and other firms making similar profits.
Scottish energy secretary Matheson backs extension of North Sea windfall tax
Scottish energy secretary Michael Matheson has backed an extension to the North Sea windfall tax, and said he would broaden it to a range of other industries.
45 million in UK to be plunged into fuel poverty in winter
An estimated 45 million people in the UK will be forced into fuel poverty and struggle to pay energy bills this winter, new research has found.
Sunak rules out freezing UK energy price cap as Truss holds back
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.
5 things you need to know about the next prime minister after Perth Hustings
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.
Next PM urged to shut down windfall tax ‘speculation’ as candidates visit north-east 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.
Windfall tax revisions risk ‘untold damage’ to energy security says offshore trade body
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.
Labour proposes extending windfall tax on oil and gas firms
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.
Neptune Energy sees windfall tax threatening investment
Neptune Energy CEO Pete Jones has warned that the UK’s windfall tax on oil and gas profits will threaten long-term investment in the sector, but have limited impact on the firm itself.
Truss rejects new UK windfall tax while Sunak’s open to the idea
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.