Oil Industry Wants You To Foot Their Decommissioning Bill

by Alex Docherty Oil and Gas Firms could be getting Tax breaks worth almost £13 billion – to help them with the cost of decommissioning platforms in the North Sea.  The Government may also miss out on over £11 billion worth of revenue, because of the removal of platforms and infrastructure reducing operators’ taxable profits. The decommissioning of oil and gas platforms in the North … Continue reading Oil Industry Wants You To Foot Their Decommissioning Bill

Oil Authority Want to Drill More Oil

by Alex Docherty The Oil and Gas Authority today called for the oil and gas industry to increase “cost effective” drilling activity in the UK Continental Shelf (UKCS). More than 7,800 wells have already been drilled in the UKCS to date, and have produced over 44 billion barrels of oil. OGA’s Wells Insight Report also proposes to cut the cost when they are abandon their existing … Continue reading Oil Authority Want to Drill More Oil