The UK is fiscally unstable, says North Sea oil CEO
Publishing timestamp: 2023-01-19 06:22:49
Summary
The British government has raised the windfall tax on oil company profits from 25% to 35% until 2028, which has caused instability in the U.K. and has led to short-termism. This has caused EnQuest CEO Amjad Bseisu to suggest that Asia is now the biggest growth area for the North Sea petroleum exploration and production company, rather than the U.K. or Europe. Harbour Energy has revealed that it will be forced to cut jobs due to the windfall tax.
Sentiment: NEGATIVE
Keywords: banks, harbour energy plc, davos - world economic forum, world economy, breaking news: davos, switzerland, business news, enquest plc, politics,
Source: https://www.cnbc.com/2023/01/19/the-uk-is-fiscally-unstable-says-north-sea-oil-ceo.html