Published: March 13, 2008 at 8:25 PM
LONDON, March 13 (UPI) — North Sea oil companies are looking for further incentives to explore.
A package of modest tax breaks for North Sea oil and gas companies was recently set out but industry officials said they are hoping for more substantial incentives to investment in the future, the Financial Times U.K. reported.
The oil and gas industry was expected to pay roughly $19 billion in corporation tax and petroleum revenue tax in the coming fiscal year, a $2 billion increase.
The nearly $50 million estimated benefit of the new tax relief to the industry next year is small to them
Michael Tholen, the economics director at Oil & Gas UK, the industry association, said that, while the measures were “sensible” assistance, “we are not talking about a tidal wave of new investment coming in to the North Sea as a result of these changes.”
The North Sea is one of the fastest-declining regions for oil production. Oil and gas discoveries are typically small and much of the infrastructure is aging.
The international companies that originally opened up the region, like Royal Dutch Shell and BP, have been pulling back.
The Treasury is holding consultations with the industry on further tax relief, which could come into effect in June. Tholen said he hoped it could lead to capital on developing smaller oil and gas fields.
© 2008 United Press International. All Rights Reserved.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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