UK industry urges early scrapping of windfall tax on oil and gas firms

Offshore Energies UK (OEUK) is lobbying the Labour government to replace the windfall tax on North Sea oil and gas producers in 2027 instead of 2030, citing expected winter energy bill surges. The proposal would narrow the levy to apply only during price spikes. This signals industry pressure on fiscal policy amid rising energy costs, but the government's response is uncertain.