UK finance minister Rishi Sunak
Sunak demands North Sea cash bonanza reinvestment
UK MPs vote against a windfall tax on producers, but finance minister wants spending in return for no raid on coffers
“We are pragmatic, and we want to see our energy companies—which have made extraordinary profits at a time of acutely elevated prices—investing those profits back into British jobs, growth and energy security,” UK finance minister Rishi Sunak told a debate on the cost-of-living crisis in the country’s lower house on Tuesday. “I have made it clear and said repeatedly that, if that does not happen soon and at significant scale, no option is off the table.” MPs later voted down an opposition amendment to the Conservative government’s Queen’s Speech legislative programme regretting the failure to impose a windfall tax on oil and gas producers. But, while no Conservative representatives voted in
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
