Britain’s oil association, Oil & Gas UK, wants from the British government to impose a special tax regime to save the future of the country’s offshore oil industry, as investments are under-performing.

On 23 February, Oil & Gas UK said that 43 percent of the British oil fields in the North Sea will lose money this year if oil prices remain around $30 per barrel. This will result in deterring further exploration and investment. The energy association said that under the current trend, ...


This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now