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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

Techouse tests offshore steam generator designed to cut CO₂ emissions by 25%

Jackdaw project moves toward UK approval after consultation closes

Siemens Energy supports Petrobras offshore expansion with FPSO systems

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