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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

Equinor extends Deepsea Atlantic drilling contract into late 2027

Equinor scales back Troll electrification to protect gas output

TotalEnergies, Namibia still negotiating Venus terms as 2026 FID target nears

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