Opinion
Huge decline in North Sea oil flows for INEOS
...new windfall taxes, which are now so high there is no cash left for new production. The problem is exacerbated by the mixed messages coming from UK politicians which further...
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News
73,000 litres of fuel seized
...significant safety and environmental issues. As taxpayers and local ratepayers, not only are we missing out on the stolen tax that ends up the pockets of the criminals, we are...
News
Illegal fuel plant uncovered
...operation typically generates tonnes of toxic waste, which involves significant environmental and safety issues. As taxpayers and local ratepayers, not only are we missing out on the stolen tax going...
News
Lough Ross laundering plant dismantled
...Ross, raises concerns around the potential pollution risks involved. “As taxpayers and local ratepayers, not only are we missing out on the stolen tax that ends up the pockets of...
Opinion
Record profits for big energy companies increase calls for environmental legislation
...are not encouraged by the government to invest in decarbonising our energy infrastructure and systems. Instead, she said: “It is the opposite. For example, the much debated ‘windfall tax’ on...
News
Essar ‘strong performance’ update supports energy transition
...and North Sea sources.” Deferred tax payments cleared Increased demand for locally produced fuel amidst the tight global supply situation has seen trading significantly ahead of previous forecasts. This stronger...
Interview
Industry voice – Rupert Turner MD UK Marketing Phillips 66
...or deliverability but that means a huge investment. Does the windfall tax affect that ability to invest in future solutions? Currently the windfall tax is only applicable to companies extracting...
Knowledge
Red diesel: What do the new rules mean for fuel distributors?
...red diesel and increased demand for white. On April 1 2022, the Government changed the rules on who is eligible to use red diesel – with the aim of taxing...
News
Crown Oil’s new fuel for fleet
...vehicles on hydrotreated vegetable oil (HVO). Crown Oil, based in Bury, has now called on the UK government to introduce tax relief on fuels such as HVO to encourage greater...
Opinion
UKIFDA urges UK Government to reconsider red diesel entitlement deadline
...short amount of time would impose immediate additional tax of significant value for many industries – and in industries that are already operating on reduced margins due to Covid-19 restrictions...
News
More diesel laundering sites discovered
Two men from Great Yarmouth were arrested last week after HMRC dismantled a diesel laundering plant, capable of evading over £1.3 million in duty and taxes a year. Storage tanks,...
News
Record results for Essar
...FY15. Profit after Tax (PAT) in the period grew to $244 million, against $70 million in FY15. “This was a good year for the business, with the strong financial and...
News
More jobs in oil
As an oilfield tax allowance paves the way for hundreds of new jobs in the UK, the Oil and Gas Global Salary Guide 2013 says UK oil and gas professionals...
Insight
How does the french downstream sector compare to the UK?
...parity between motor spirit and diesel pump prices, presumably via excise duty adjustments, to close the current 25 eurocents/litre gap. Levied on heating oil not transport fuels, a carbon tax...
Opinion
Fuel distributors to prepare for possible fiscal marker change
...by the European Commission for tax rebated fuels replaces the original Euromarker, Solvent Yellow 124, with a marker meant to be more resistant to removal and less environmentally toxic. According...
News
Major investment at Stanlow
...(in $m) 86 55 311 359 Profit before tax (in $m) 115 28 257 251 Profit after Tax (in $m) 54 65 168 244 Stanlow margins over the KBC...
Analysis
What is the direction of travel for the UK energy sector?
...get tough on oil and gas companies by closing the loopholes in the windfall tax, extending the sunset clause in the Energy Profits Levy until the end of the new...
Insight
Ken’s Corner: Unintended consequences
...election of a new U.S. president. Inheritance Tax and Energy Security – a potent cocktail? The law of unintended consequences states that actions, especially those taken by governments, can have...