Kistos looks elsewhere after tax raids

The North Sea-focused producer is unimpressed by UK, Dutch and EU legislation

UK-listed independent Kistos “is actively evaluating opportunities outside of the UK and Dutch jurisdictions” after a triple hit from so-called windfall taxes. The scale and manner of tax changes in the Netherlands—with Cjins and EU Solidarity tax—and in the UK—with the Energy Profits Levy (EPL)—have made investment decisions more challenging for the firm’s board, it warns. Cijns is a fee on turnover generated from oil and gas production in the Netherlands. The Dutch government plans a temporary rate of 65pc to apply to turnover specifically generated from the sale of gas at a price higher than €0.50/m³ during 2023 and 2024. For 2022, the Dutch response to the EU’s solidarity contribution de

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