Budget 2015: Osborne cuts tax for North Sea oil

  Chancellor George Osborne guaranteed tax relief for North Sea oil and gas companies as part of his 2015 Budget announcement today. He confirmed the so-called Supplementary Charge would be reduced from 30% to 20% with immediate effect and would introduce an allowance aimed at boosting investments that have dropped as a result of falling […]

China hands out tax breaks to solar manufacturers

China is giving a generous tax break to businesses which make solar power products in the country, its Ministry of Finance announced over the weekend. The tax break which began yesterday (1 October) will last until 31 December 2015, reported Chinese news agency Xinhua. Firms which sell solar panels they have manufactured themselves will get a […]

BP to invest $1bn in Alaska after oil tax reform

BP is set to add $1 billion (£0.65bn) in new investment and two drilling rigs to its Alaska North Slope fields over the next five years following a new oil tax policy. Alaska Governor Sean Parnell championed a tax cut in an effort to increase oil production and investment in the industry and lowered oil […]