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Posts on ‘November 22nd, 2022’

Shell to review £25bn investment in UK projects after windfall tax extended

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giant’s UK chairman tells Sky News the company knows it has to play its part but it wants to know when the levy will be withdrawn.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 

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. read more

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Shell to ‘evaluate’ 25 bln pound British investments after windfall tax

REUTERS

Shell to ‘evaluate’ 25 bln pound British investments after windfall tax

By :

LONDON, Nov 21 (Reuters) – Shell (SHEL.L) said on Monday it will evaluate plans to spend up to 25 billion pounds in Britain over the next decade following the government’s decision to increase a windfall tax on oil and gas producers.

“We’re going to have to evaluate each project on a case by case basis,” said Shell’s UK country chair David Bunch told the Confederation of British Industry’s annual conference in Birmingham. “When you tax more you’re going to have less disposable income in your pocket, less to invest.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.