Up to 30 upstream projects larger than 50 million of barrels of oil equivalent (boe) could reach final investment decisions (FID) in 2024 for an estimated investment of US $125 billion, with the new investments putting a significant emphasis on deepwater projects and emission reduction targets, as per a new report from Wood Mackenzie.
This coming May will mark the second anniversary of the UK’s so-called windfall tax on oil and gas companies. And like any two-year-old, the Energy Profits Levy (EPL) – to use the official name – has been responsible for plenty of noise. Not least now that it has been extended.
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