© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: BOC Had Clear Consensus For Patience With Rate Hold

MACKLEM:NEW GOVT FISCAL GUARDRAILS HELPFUL FOR MONETARY POLICY

MNI BRIEF: Europe “Closer To A Deal” On Fiscal Rules –Scholz

MNI: BAKER HUGHES US RIG COUNT 622; OIL RIGS 500; GAS RIGS 117

US EIA:NAT GAS STORAGE -7 BCF TO 3,826 BCF NOV 17 WK

US Treasury Auction Calendar

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Cepsa Adds to Concerns Over Extended Spanish Windfall Tax on Energy

OIL
BulletEnergy BulletsHomepageCommodities

Spain’s Cepsa hit back at windfall taxes again this week which it said had negatively impacted its profitability.

  • The company’s results this year “continue to reflect the impact of Spain’s poorly designed windfall tax regime as well as the volatile energy markets seen across Europe,” Cepsa said in a statement.
  • “We hope to work with the new Spanish government to ensure that Spain’s fiscal and regulatory frameworks support industry and create a competitive environment for the energy transition,” Cepsa’s Chief Executive Officer Maarten Wetselaar said.
  • Repsol said late in October that Spain’s windfall tax was hampering its operations and investments in the energy sector.
  • "The possibility of maintaining a tax on energy companies, which was designed to be temporary and extraordinary, punishes companies such as Repsol that invest in industrial assets, generate employment and guarantee the country's energy independence," Repsol said.
141 words

To read the full story

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Spain’s Cepsa hit back at windfall taxes again this week which it said had negatively impacted its profitability.

  • The company’s results this year “continue to reflect the impact of Spain’s poorly designed windfall tax regime as well as the volatile energy markets seen across Europe,” Cepsa said in a statement.
  • “We hope to work with the new Spanish government to ensure that Spain’s fiscal and regulatory frameworks support industry and create a competitive environment for the energy transition,” Cepsa’s Chief Executive Officer Maarten Wetselaar said.
  • Repsol said late in October that Spain’s windfall tax was hampering its operations and investments in the energy sector.
  • "The possibility of maintaining a tax on energy companies, which was designed to be temporary and extraordinary, punishes companies such as Repsol that invest in industrial assets, generate employment and guarantee the country's energy independence," Repsol said.