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UK Government has incurred a loss from oil&gas production for the first time in history.

stander
stander
in Oil, Gas and Energy News

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The UK Government has incurred a loss from oil and gas production for the first time in history.


The Treasury put £24 million more into investment and decommissioning than it got back in petroleum revenue tax in 2015/16, the first time the oil balance sheet has been in the red since records began in 1968/69.


The Government said “it is doing everything it can to support the North Sea industry” following the “concerning” figures, compiled by HM Revenue and Customs.


https://wpcluster.dctdigital.com/energyvoice/oilandgas/north-sea/110593/north-sea-oil-balance-sheet-red-first-time/


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