UK Considers Lifting Windfall Tax For Oil And Gas Operators

The UK’s government may lift the controversial 35% windfall tax it imposed on the energy industry last year in response to the supply crunch that sent energy prices soaring. The decision comes amid a consistent decline in energy prices and would come into effect once these prices fall below a certain level, Bloomberg reported, citing an unnamed source in the know.

The energy price level, at which the tax would potentially cease to apply is yet to be determined. Reports about the possibility of lifting the additional tax burden that the industry…