Related Articles
Forward article link
Share PDF with colleagues

UK group argues for tax cuts if low oil prices remain

Many senior executives believe the oil price will remain low, resulting in calls for revisiting the government's tax policy

The head of UK upstream lobby group Oil & Gas UK, Deirdre Michie, told the Offshore Europe conference in Aberdeen on 9 September that if the oil price does stay lower for longer, as many senior oil executives believe, then "the government needs to revisit the headline tax rate, perhaps". OGUK had just presented the key findings of its latest annual economic report, which showed that the money flowing into offshore projects last year was less than the money flowing back into the UK. But there was recognition too that the offshore needed to bring costs down further and should share the burden. Speaking for Shell UK at a panel session immediately after Michie, Paul Goodfellow said that "w

Also in this section
Nigeria's election hangs over energy sector
19 April 2018
Africa's biggest economy is growing again. But next year's vote is stalling reform and investment in its crucial energy sector
Syria: ruthless business as usual
18 April 2018
The joint US-UK-French strikes on chemicals targets in Syria won’t affect the war—but they could damage Trump's image in the region
Elections a new rupture point in Venezuela crisis
16 April 2018
A Maduro loss in May's election could be a turning point, but recovery will be lengthy