North Sea Oil Industry 'Taxed to Death'
Update: 2025-11-26
Description
The North Sea oil and gas industry faces significant pressure due to a windfall tax, with critics arguing it hinders investment and job creation. Russell Borthwick, CEO of Aberdeen and Grampian Chamber of Commerce, warns of a sharp decline in production and job losses within five years. Meanwhile, the government approves measures to allow drillers to develop new fields adjacent to existing ones, aiming to keep current oil and gas supplies flowing.
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