The North Sea’s oil and gas future hangs in the balance and requires a new fiscal regime

The North Sea’s oil and gas future hangs in the balance and requires a new fiscal regimeNew Wood Mackenzie analysis defines the critical challenges to developing a more predictable tax policy that works for industry and governmentLONDON, 03 October 2024 – After a history of ad hoc changes, the UK government must implement a more predictable tax regime that provides greater long-term stability to the North Sea oil and gas sector, as soon as possible, according to new analysis by Wood Mackenzie.The UK government has acknowledged that oil and gas production in the North Sea will be required for “decades to come”. But recent and proposed modifications to...Read the full article here