Shell says windfall tax ‘creates uncertainty’ about North Sea oil and gasoline funding

0

Get real time updates directly on you device, subscribe now.



Shell has stated the chancellor’s windfall tax “creates uncertainty” about investing in oil and gasoline within the North Sea.

A Shell spokesperson stated: “We perceive the fear for tens of millions of individuals about how excessive vitality prices are difficult their family budgets – and the necessity for assist to assist make ends meet.

“However on the identical time, we should maintain funding in securing provides of oil and gasoline the UK wants as we speak, whereas allocating future spend for the low carbon energies we wish to construct for the longer term.

“Nevertheless, in its present type the levy creates uncertainty concerning the funding local weather for North Sea oil and gasoline for the approaching years.

“And, long term, the proposed tax reliefs for funding do not lengthen to the renewable vitality system we wish to drive ahead within the UK and spend money on very considerably.

“When planning for the following decade and past, we’d like certainty.”

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.