The Guardian
Shell says windfall tax threatens North Sea oil and gas investment
Alex Lawson Energy correspondent: Fri 27 May 2022
Shell has said Rishi Sunak’s windfall tax is a threat to investment in North Sea oil and gas as Britain attempts to ramp up domestic energy supplies.
The chancellor yesterday announced an “energy profits levy” on oil and gas operators that he hopes will raise £5bn to help fund a support package for households.
Sunak also introduced measures to encourage investment into UK energy supplies, with tax breaks worth 91p for every £1 invested.