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Articles by Norman Wisely
UK Budget: Changes to Oil and Gas Tax Regime
Home / Publications / UK Budget: Changes to Oil and Gas Tax Regime The UK government announced in today’s Budget that the energy profits levy (or ‘EPL’) applicable to UK oil and gas profits will be increased from its current rate of 35% to 38% from tomorrow, and the period for which the levy applies will be extended to... Read more
Changes to Energy Profits Levy
Yesterday the new Labour government published a policy paper with changes it intends to make to the energy profits levy, commonly referred to as ‘EPL’. These include extending the period for which the levy applies, increasing the rate, and denying the use of tax reliefs for the purposes of the levy.
Changes to Energy Profits Levy
30/07/2024 Yesterday the new Labour government published a policy paper with changes it intends to make to the energy profits levy, commonly referred to as ‘EPL’. These include extending the period for which the levy applies, increasing the rate, and denying the use... Read more
High Court Dismisses Greenpeace and Uplift’s Judicial Review Claim Against 33rd Offshore Oil and Gas Licensing Round
The High Court in London has handed down a judgment dismissing Greenpeace and Uplift’s judicial review challenge against the North Sea Transition Authority’s (the “ NSTA ”) 33rd Offshore Oil and Gas Licensing Round (the “ Licensing Round ”).
High Court Dismisses Greenpeace and Uplift’s Judicial Review Claim Against 33rd Offshore Oil and Gas Licensing Round
High Court Dismisses Greenpeace and Uplift’s Judicial Review Claim Against 33rd Offshore Oil and Gas Licensing Round 24/10/2023 The High Court in London has handed down a judgment dismissing Greenpeace and Uplift’s judicial review challenge against the North Sea Transition Authority’s (the “ NSTA ”) 33rd Offshore Oil and Gas Licensing Round (the “ Licensing Round ”).BackgroundFollowing...
Oil and Gas Energy Transition
While there is an expanded awareness and also ambitious goals coming out of fora, like the COPs, and policy developments, such as the EU’s REPowerEU initiative, the continuing year-on-year increase (aside from in the Covid years) in global CO2 emissions serves as a reminder that the transition to a low carbon global economy remains enormously complex, challenging and a work in progress.
Long-awaited field development approval for Rosebank field
27/09/2023 The owners of the Rosebank field have today obtained regulatory consent for the development of the field.Rosebank BackgroundThe Rosebank field was discovered in 2004 and is the UK’s largest undeveloped discovered oilfield. The field is located 130 kilometres... Read more
North Sea Transition Authority exercises revocation powers in relation to offshore licences
05/06/2023 Since its inception the NSTA has highlighted the importance of “right assets, right hands” i.e. of ensuring that offshore petroleum licences are held by the right companies to ensure their development, production and management in compliance with good practice... Read more
Greenpeace and Uplift granted permission to proceed with judicial review against the latest offshore oil and gas licensing round
27/04/2023 IntroductionEnvironmental campaign groups such as Greenpeace and Uplift are increasingly using court proceedings to seek to advance their arguments, often by means of judicial review applications challenging the approach taken by government or regulators in considering... Read more
The North Sea Transition Authority (NSTA) launch consultation on proposal to issue guidance on the conduct of licence assignments
06/04/2023 When North Sea oil and gas assets are sold on an asset basis (as opposed to a share sale of the company which owns the interests), it is generally necessary for the seller to assign/transfer to the buyer all of the various agreements which establish the seller’s... Read more
North Sea Transition Authority - Regulatory Update
27/02/2023 It has been two years since the NSTA published its revised Strategy, which focused the oil & gas industry’s attention on its role in working towards ‘net zero’. Since that time, there have been numerous examples of guidance, reports and communications from... Read more
North Sea Transition Authority - Carbon storage data powers consultation response
28/04/2023 The North Sea Transition Authority (“NSTA”) has published a response to its consultation on new carbon storage data powers. The consultation, which ran from 18 January 2023 until 1 March 2023, sought views on whether information and sample retention and reporting... Read more
Oil & Gas: Protecting your position in a falling market | Lexology
United Kingdom
March 10 2020 With the headlines on the front page of yesterday’s Financial Times predicting an “oil price war” and Brent diving to US$31/bbl at just after 4am UK time on Monday, oil companies and contractors will doubtless be looking to take steps to manage their exposure. It is important for industry participants and other stakeholders to have legal strategies in place to deal with marketplace changes.
Energy Transition: Evolution or Revolution?
Home / Publications / Energy Transition: Evolution or Revolution? The role of oil and gas companies in a net-zero future January 2020 The energy transition is upon us – Greta Thunberg and Extinction Rebellion continue to generate more headlines than Greenpeace and, in Europe at least, there is significant societal pressure to move from fossil fuels to renewable or alternative sources of energy. What is the “Energy Transition”?
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