Belfast Telegraph

Monday 5 October 2015

North Sea drill tax blow hits BG

Published 11/05/2011

Gas and oil exploration giant BG posted a sharp fall in profits as it counted the cost of the Government's raid on North Sea drilling.

BG took a charge of $265m (£162m) to reflect the rise in the offshore drilling tax to 32%, from 20%, announced in the Budget. Its effective tax rate rose to 45% from 42% as a result of the Chancellor's move.

From the web

Sponsored Videos

Your Comments

Comments posted this week will only be visible until Saturday Oct 3 and will not be available to view after that date. This is due to essential upgrade work on our content management system and we apologise for any inconvenience.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More

From Belfast Telegraph