BP has paid around $1 billion in taxes on its UK North Sea profits since the so-called windfall tax was introduced in May 2022, according to estimates from Bloomberg. During the first quarter of 2023, BP paid around $300 million for the Energy Profits Levy (EPL), as the windfall tax is formally known, the supermajor’s CFO Murray Auchincloss told Bloomberg in an interview on Tuesday, when BP announced its first-quarter profits.
The tax paid in the first quarter brings the total taxes paid for the EPL to some $1 billion, according to…BP Has Paid $1 Billion In UK Windfall Taxes
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