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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

Norske Shell awards AGR workforce contract for Ormen Lange operations

PETRONAS unlocks more than 1 Bboe with latest Suriname discoveries

TotalEnergies sells stake in Malaysia’s Marjoram gas field to INPEX

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