Merger Reduces UK's Oil Tax Income

TotalEnergies and Neo Next Energy merge North Sea assets, creating the largest independent producer, aiming to reduce tax burden under current UK policies. This consolidation, along with other mergers, is a direct response to a tougher tax regime, potentially leading to less tax income for the UK government and a possible exodus of investment from the North Sea.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.