Friday 24 March 2023

Since the UK Government announced a further 10% hike to the UK Energy Profits Levy (EPL) – also known as the windfall tax – which took the headline tax rate for UK oil and gas producers to 75% and delayed the closing date until 2028, there has been a steady stream of announcements from North Sea operators regarding their forward drilling plans (or lack thereof) in the region.

Full story here.