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UK firms accused of profiteering as vast study finds margins rose 30% post-pandemic

UK firms accused of profiteering as vast study finds margins rose 30% post-pandemic
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United kingdomIsabella weberSharon grahamUniversity of massachusetts amherstBank levyEuropean central bankEnergy price levyInternational monetary fundMassachusetts amherst

Cuts to North Sea oil and gas investment weigh on Britain s production sector

Falling investment in North Sea crude and natural gas extraction helped drag Britain s production sector into contraction in the three months to January 2024, Office for National Statistics data shows.

North seaOceans generalUnited kingdomNicholas hyettSea rosebankJeremy huntUnited kingdom energy price levyDepartment for energy securityEnergy price levyEnergy price levy north seaOffice for national statisticsBritain energy priceWealth clubHarbour energyNational statisticsEnergy price

UK risks losing £100bn of energy projects unless it cuts high taxes and red tape

The UK risks missing out on as much as £100bn of investment in domestic offshore energy projects, an industry body has warned.

United kingdomNorth seaOceans generalNicholas earlDavid whitehouseOffice for budgetary responsibilityEnergy security investment mechanismEnergy price levyEnergies united kingdomOffshore energies united kingdomEconomic reportReduction actBudgetary responsibilityTreasury spokesperson

Moody s Sees Little Relief for UK Oil and Gas Producers

The high frequency of changes to the EPL observed so far further contribute to increasingly uncertain operating conditions on the UKCS .

United kingdomNorth seaOceans generalMaria chiara caviggioliChristy wilsonDavid duguidGareth daviesBanff buchanEnergy profits levyOffice for budget responsibilityEnergy price levyUnited kingdom energy price levyMoody investors serviceEnergy profits levy priceInvestors serviceAssociate vice president

Enough windfall taxes: We need oil and gas to go green

The UK will need oil and gas for decades to come - despite renewables' progress- making calls for toughened windfall tax dubious.

United kingdomNorth seaOceans generalNicholas earlGreg jacksonEd milibandIthaca energyEnergy profits levyHarbour energySea transition authorityEnergy price levyClimate change committeeInflation reduction actPrime minister rishi sunakEnergy profitsNorth sea transition authority