BP Reviews North Sea Investments In Wake Of UK’s Windfall Tax

BP will review its oil and gas investments in the UK, the company said on Thursday, after UK Chancellor Rishi Sunak presented a plan earlier in the day that would assess a 25% windfall tax on North Sea energy companies. The windfall tax is set to stick around until oil and gas prices return to normal levels, or by December 25. BP said earlier this month that it was planning on investing £18 billion in the United Kingdom by the end of 2030 to help “the country to deliver on its bold ambitions to boost energy security and reach net zero.”…