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UK oil and gas producers warn Sunak over windfall tax

by Editor June 23, 2022, 8:19 pm 1.5k Views

UK oil and gas producers warn Sunak over windfall tax

UK oil and gas producers on Thursday warned Rishi Sunak, the chancellor, that his new windfall tax on their profits could force the cancellation of projects as well as prompt investors to deploy their capital elsewhere.

At a meeting with Sunak in Aberdeen, about 20 executives from companies with UK North Sea operations — including Equinor, Harbour Energy, Ithaca Energy and Shell — highlighted negative consequences from the…

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