Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads ...Middle East

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Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads
source : OILPRICE ( Middle East ) () 21
Windfall taxes, price caps, and calls for more oil and gas production marked 2022 in oil and gas. It looks like we’re in for a lot more of the same this year, especially with Western governments doubling down on their emission-reduction ambitions. The record profits that oil and gas majors raked in last year thanks to the price rally in energy commodities prompted governments in the EU and the UK to impose windfall taxes. These were aimed at propping up state finances at a time when economies were struggling to keep going amid soaring energy…

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