UK Budget Signals Wave of New North Sea Oil and Gas Drilling ...Middle East

John Healey’s Budget has assumed the government will approve North Sea discovery drilling projects that produce in excess of a billion barrels of oil and gas, in the clearest sign yet that ministers plan to rubber-stamp a wave of new drilling after Jackdaw and Rosebank. In its scorecard for the Chancellor’s maiden fiscal event, the Office for Budget Responsibility accounted for a boost in tax receipts from the “development of new fields” that not only include the controversial Rosebank oil field but also other “future…

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