North Sea producers slugged with tax rise

WHILE Australian onshore oil and gas companies are preparing to face the extension of the Petroleum Resource Rent Tax to onshore projects, oil and gas producers in the UK North Sea have been slugged with an increase in taxes.

North Sea producers slugged with tax rise
North Sea producers slugged with tax rise
North Sea producers slugged with tax rise
North Sea producers slugged with tax rise
North Sea producers slugged with tax rise

UK Chancellor of the Exchequer George Osborne raised the North Sea supplemental extraction tax to 32% from 20% in his budget speech yesterday, drawing a heated response from the oil and gas industry.

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