Shell warns UK North Sea tax levy bad for oil, gas, renewables supply investment
Shell May 27 warned the UK’s new ‘energy profits levy’ on North Sea oil and gas producers undermined the certainty needed to ensure investment in future supply while failing to support the government’s energy transition goals. Intensifying a row over the government’s unscheduled 25% levy on the industry, announced May 26 and described by some as a ‘windfall’ tax, Shell…