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Equinor Reconsidering UK Investments on Windfall Tax

OIL

Norway’s Equinor said on Tuesday it is evaluating the impact of Britain's windfall tax on its oil and gas projects, including the giant Rosebank development.

  • The announcement follows shortly after Shell announced similar sentiment yesterday.
  • “The British government's decision last week to raise the windfall tax on North Sea producers to 35% from 25% "does not help investor confidence," Equinor said in statement.
  • The final investment decision on Rosebank is set for Q1 2023.

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