“Tax break could lead to rush of deals in North Sea”

Posted on

Source: Aberdeen Journals Ltd 23 November 2017

“A ground-breaking new tax break for the oil sector will revitalise the North Sea and pave the way for a flurry of deals, industry experts said yesterday.

They said the UK Government’s decision to let firms transfer tax credits would attract fresh investment to the basin and prolong production from mature fields.

Derek Leith, head of oil and gas tax at EY, said the changes had the potential to “revitalise” the UK oil and gas industry and Alex Kemp, professor of petroleum economics at Aberdeen University, said the reforms were to “everyone’s advantage”, including the Treasury, as “more transactions mean more oil will be recovered”.”

Source article here

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s