Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

North Sea oil firm Neo slows investment amid windfall tax concerns

Neo Oil North Sea United Kingdom
A Galaxy Jack-up exploration oil rig
The Labour government said it would raise taxes on North Sea producers to fund the transition to green electricity generation. Photograph: Calum Davidson/Getty

An oil and gas company has slowed down work on a large North Sea oilfield, citing uncertainty over the Labour government’s approach to fossil fuels.

The Norwegian-owned Neo Energy said it had decided “to materially slow down investment activities across all development assets in its portfolio”, citing the prospect of higher taxes and tougher environmental rules.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
James Bond Drank About 53 U.S. Standard Drinks a Week, and Doctors Suspected a Tremor Behind His Shaken Martinis
Doctors tallied every drink in Ian Fleming's Bond novels and found 007 averaged 92 UK units a week, about 53 U.S. drinks, with a shaky martini theory.
Medical Daily
Medical Daily
Netflix’s Narnia trailer featuring Led Zeppelin divides fans as some brand it a ‘disgrace’
‘Narnia: The Magician’s Nephew’ is directed by ‘Barbie’ filmmaker Greta Gerwig and is set to be released next year
The Independent UK
The Independent UK
Washington family’s Victorian doll Michael and its eerie dinner tradition
A Victorian doll named Michael occupies a unique place in Washington, DC’s history, not simply as an antique kept in a museum but as part of a family tradition shaped by superstition, grief and spiritualism. Displayed at the Heurich House Museum , Michael was reportedly seated at the dinner table…
The Times of India
The Times of India
Christian group tries to preach to women at Texas Roadhouse; the women respond with their own kind of blessing, leading to police intervention
They certainly weren't expecting that.
We Got This Covered
We Got This Covered
SNL stars and alum weigh in on Shane Gillis’ sexist monologue
Gillis’s comments on the late night sketch comedy show have sparked intense backlash
The Independent UK
The Independent UK
Claude Lalanne’s bronze monkey armchair with ostrich leather seat sold for $1.079 million
Sotheby’s auction in December 2025 saw the sale of a remarkable gilt-bronze armchair by Claude Lalanne, which captured attention with its elaborate vines and monkey embellishments. This particular design, created in 1998, was the pioneer among Lalanne’s 'Singerie' armchairs to attract a successful sale. The high demand for Lalanne's artistry…
The Times of India
The Times of India
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play