skynews
Shell to review £25bn investment in UK projects after windfall tax extended
The oil giant’s UK chairman tells Sky News the company knows it has to play its part but it wants to know when the levy will be withdrawn.
Business correspondent @pkelsoMonday 21 November 2022 19:53, UK
Shell will review £25bn of investments in British projects after the chancellor extended the windfall tax on energy companies, its UK chairman has told Sky News.
David Bunch said the oil giant would re-examine each of its projects on a “case-by-case basis” after Jeremy Hunt increased the levy on “excess” oil and gas profits from 25% to 35% in last week’s autumn statement.