After eight long years of difficult market conditions, offshore contractors appear headed for a multi-year recovery that should see continually improving economics and efficiencies.
Westwood Insight – UK fiscal regime to amplify North Sea rig exodus | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
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.
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Oil exploration opponents yesterday sought the Supreme Court s approval to add the Town Planning Committee as a fourth respondent in their challenge to Bahamas Petroleum Company s (BPC) drilling.
Waterkeepers Bahamas and the Coalition to Protect Clifton Bay, in moving to amend their initial Judicial Review action, argued that the planning regulator should be added because it has failed to order BPC to cease it activities in waters 90 miles west of Andros given the seeming absence of site plan approval.
Joe Darville, a director of both environmental groups, alleged in a December 29, 2020, affidavit that the Town Planning Committee is required by law to halt any projects that breach the planning laws - as he and his fellow activists claim BPC has done.