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Rachel Reeves delays plans to scrap North Sea windfall tax

Rachel Reeves delays plans to scrap North Sea windfall tax

by Offshore Reporter | Mar 4, 2026 | Offshore

The UK government has postponed plans to scrap the North Sea Energy Profits Levy after oil prices surged amid the Iran conflict, leaving producers facing the 78% tax regime for longer than expected.

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Rachel Reeves delays plans to scrap North Sea windfall tax

Latest News

TotalEnergies completes UK North Sea merger, creating largest independent producer

Chariot funds Angola offshore acquisition, secures stake in Block 14 production

Serica completes TotalEnergies asset deal, establishes West of Shetland gas hub

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