Reports: Oil and gas firms under pressure to boost UK investment or face windfall tax

Cecilia Keating
clock • 3 min read
Oil and gas firms have enjoyed bumper profits as oil and gas prices have soared | Credit: iStock
Image:

Oil and gas firms have enjoyed bumper profits as oil and gas prices have soared | Credit: iStock

Reports indicate Chancellor Rishi Sunak has not entirely ruled out windfall tax, as pressure mounts on government to offer more help for households struggling with soaring energy bills

North Sea oil and gas firms are facing growing pressure from the Treasury to increase their investment commitments in the UK or face the threat of a 'windfall' tax on the vast profits they have reaped...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Report: Green hydrogen projects struggling to move beyond drawing board in UK and Europe

Report: Green hydrogen projects struggling to move beyond drawing board in UK and Europe

Stalling demand could put 2030 targets for green hydrogen production capacity ‘beyond reach’ in the UK and Europe, according to the Energy Industries Council

Michael Holder
clock 14 August 2026 • 4 min read
CIP fires up 'Europe's largest' battery storage facility in Scotland

CIP fires up 'Europe's largest' battery storage facility in Scotland

The 500MW Coalburn 1 battery storage facility is one of three being developed by Copenhagen Infrastructure Partners in Scotland

clock 13 August 2026 • 1 min read
Report: Ditching gas for clean energy could save UK manufacturers £2.1bn by 2035

Report: Ditching gas for clean energy could save UK manufacturers £2.1bn by 2035

Widespread adoption of 'proven' measures such as onsite renewables, smart energy management and waste heat recovery could unlock billions in savings over next decade

Michael Holder
clock 11 August 2026 • 4 min read