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

Also in this section
17 February 2025
The thrum of the government’s comprehensive energy internationalism could be seen in the flurry of deals and partnerships at India Energy Week amid a mission to meet the economy’s insatiable appetite
17 February 2025
There is a growing feeling that it will not take much for heavy international hitters to follow the US out of the Paris Agreement
14 February 2025
The start of private LNG imports may trigger an evolution in the country’s policy of energy security to encompass commercial exploitation
13 February 2025
New supply from Argentina, Brazil and Guyana is rich in middle distillates, but optimism in terms of volume growth remains tempered by regulatory and technical risks as well as price volatility