The plan marks a departure from the UK North Sea. The retreat comes as production from the aging basin dwindles and operators there see profits eroded by the government’s 2022 windfall tax.
The government’s ‘green day’ “couldn’t be any more of a misnomer, when the Conservative party is raking in millions of pounds’ worth of dirty donations from fossil fuel interests and climate deniers.”
UK-based oil and gas company Serica Energy has entered into an agreement with compatriot Tailwind Energy Holdings to acquire the entire issued share capital of Tailwind Energy Investments in a deal worth approximately £367 million.