Soaring oil prices to 'trigger profit bonanza and £427m a month tax windfall'

Soaring oil prices to 'trigger profit bonanza and £427m a month tax windfall'

The Middle East war is set to bring bumper profits for oil and gas producers just as the industry calls for the current windfall tax to be scrapped

North Sea profits spike should be used to offset energy bill rises

North Sea energy firms are set to make bumper profits, which would lead to increased revenues for the Government under the Windfall Tax, according to new figures reported exclusively in the Mirror. Fossil fuel costs surged again late last week as attacks on energy sites in Iran and Qatar were followed by threats from US President Donald Trump to “massively blow up” a key Iranian gas field. The data shows that for every month that energy prices r…