Petrojarl Knarr FPSO

Are major UK oil projects at risk after windfall tax?

Offshore Energy has recently reported that operators of two major oil projects located off the UK - Cambo and Rosebank - are laying the groundwork to sanction these previously delayed projects next year. This comes amid an energy security crisis but also at a time when the UK government has imposed an additional tax on oil and gas profits so the question arises as to the effects of this new tax on upcoming investment decisions for these projects.

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