UK Approves 25% Windfall Tax On Oil And Gas Producers ...Middle East

British lawmakers have officially approved a 25% windfall tax on oil and gas producers that will earn the government nearly $6 billion in one year to put towards surging consumer energy bills.Now that the bill has been approved by parliament, it will have to pass the House of Lords to become law. The windfall tax legislation, originally proposed in May, has now been amended according to Reuters to list 2025 as the end date of the tax. The newer version of the legislation also makes it possible for energy firms to offset the cost of decommissioning…

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