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Jeremy Hunt To Discuss Energy Windfall Tax With Producers

OIL

British finance minister Jeremy Hunt will attend a meeting on Friday with leaders of North Sea oil and gas producers to discuss the government's windfall tax, industry sources told Reuters.

  • As part of the autumn statement, the minister announced plans to boost the country’s windfall tax on oil and gas companies from 25% to 35%, bringing the total taxes on the sector to 75%.
  • The meeting will be attended by representatives from more than a dozen North Sea producers and industry bodies.
  • Several oil and gas companies have announced in recent weeks to rethink or cut energy investments as a result of the increases in windfall taxes.
Energy BulletsCommodities
Energy BulletsCommodities

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