North Sea Oil And Gas: Increasing Windfall Tax Oil Producers Would Be Disastrous

Expanding the windfall tax would be “disastrous” for the North Sea’s oil and gas sector, warned a leading industry group in a letter to Chancellor Jeremy Hunt. Brindex hammered the UK as one of the most “fiscally unstable and complex regimes to do business in” and that increasing levies on producers would undermine its ability to boost the UK’s energy security with more projects and exploration. The North Sea body represents 20 British oil and gas producers including top ten suppliers such as Harbour Energy,…