Canada has yet to indicate any plans for a windfall tax
Letter from Canada: Risk of windfall profit tax grows
Governments around the world are under pressure to implement windfall profit taxes on oil and gas companies, and Canada may be poised to follow suit
The UK and India have introduced windfall taxes on oil and gas company profits over the past three months, while the US is seriously considering the move. Italy, Romania and Spain have introduced a levy for their power producers, while the EU is mulling a tax for the bloc as a whole. The core argument for these taxes, according to Nobel prize-winning economist Joseph Stiglitz and many others, is that profits are presently extraordinarily high simply due to Russia’s invasion of Ukraine and its impact on global oil and gas markets. The companies have done nothing to earn them. The Canadian government has yet to indicate any plans for a windfall tax, but in early May federal environment ministe
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
