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UK-focused oil and gas producers were hit last year by the Energy Profits Levy, which added an extra 35% tax on profits from output of fossil fuels.
The plan marks a departure for Tohme from the UK North Sea.
The plan marks a departure from the UK North Sea. The retreat comes as production from the aging basin dwindles and operators there see profits eroded by the government’s 2022 windfall tax.
The government’s ‘green day’ “couldn’t be any more of a misnomer, when the Conservative party is raking in millions of pounds’ worth of dirty donations from fossil fuel interests and climate deniers.”
Millions given to party and MPs last year came from entities linked to fossil fuels, high-polluting industries and climate denial