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Osborne cuts tax on North Sea oil in 2015 Budget

Osborne cuts tax on North Sea oil in 2015 Budget

Chancellor George Osborne announced in his 2015 Budget speech that he will guarantee tax relief for North Sea oil and gas companies. He confirmed the so-called Supplementary Charge would be reduced from 30% to 20% with immediate effect and would ...

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North Sea oil and gas exploration reforms announced

North Sea oil and gas exploration reforms announced

The UK treasury has announced a new set of reforms to boost oil and gas exploration in the North Sea. It includes introducing a basin-wide “investment allowance” designed to cut the tax rate for companies investing in the future of ...

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UK government pledges £36 million funds to boost shale industry

UK government pledges £36 million funds to boost shale industry

The UK government will create a £36 million funding boost for the nascent shale industry by investing in research test centres over the next tax year and public engagement. Chancellor George Osborne’s final Autumn Statement said the government would be ...

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Chancellors budget package to reduce energy costs in businesses

Chancellors budget package to reduce energy costs in businesses

The Chancellor announced in his Budget speech today, that there will be a package of reforms that will “radically reduce” energy costs for businesses, especially manufacture and power plants, pledging to save up to £7 billion by 2018/19 for industry ...

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Chancellor says fracking will combat climate change cheaply

Chancellor says fracking will combat climate change cheaply

Chancellor George Osborne  has pushed for shale gas as a way to counter climate change in a cheap way. After a speech in Hong Kong on  Thursday there was a Q & A session where Osborne said the country is ...

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