U.K. says it will withdraw windfall oil and gas tax

U.K. says it will withdraw windfall oil and gas tax

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The U.K. government on Friday said it will keep a windfall profit tax on oil and gas companies in place, unless both oil and natural gas prices fall below their 20-year averages. The tax of 75% on North Sea oil and gas production will remain in place for five years, until there are two straight…

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