- Joe Barone, Shale Directories
- Blog
- November 1, 2024
United Kingdom’s Autumn Budget Brings Further Pain for the North Sea Oil and Gas Sector
On Wednesday, the Chancellor of the Exchequer of the United Kingdom, Rachel Reeves, delivered the Labour party’s first Budget since taking office, laying out her plans to “rebuild Britain” and “make every part of the country better off”.- Joe Barone, Shale Directories
- Blog
- October 2, 2024
The Labour Government’s Windfall Tax Continues to Damage the UK’s Economic and Social Prospects
This July, the new UK Labour Government came into office promising to ‘take the brakes off Britain’ and unlock a new era of economic prosperity.- Joe Barone, Shale Directories
- Blog
- August 28, 2024
UK Windfall Tax Increase Continues to Drive Away North Sea Investment
Last month, the UK’s Labour government delivered its pre-election pledge to lift the windfall tax (formally known as the Energy Profits Levy) on oil and gas companies operating in the North Sea by three percent – with the total tax now reaching 78 percent.- Joe Barone, Shale Directories
- Blog
- August 1, 2024
North Sea Oil and Natural Gas Production In Further Jeopardy As New UK Government Announces Another Windfall Tax Increase
The U.K.’s new chancellor, Rachell Reeves, recently announced that the windfall tax (formally known as the Energy Profits Levy) will be increased to 38 percent (up from 35 percent) on November 1, bringing the rate of tax on upstream oil and gas activities to 78 percent.- Joe Barone, Shale Directories
- Blog
- May 23, 2024