Kistos to explore outside of UK and Dutch jurisdictions
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
8 December 2023
The US oil major is leveraging its skillset to develop a low-carbon portfolio spanning CCS and blue hydrogen to lithium for EV batteries
8 December 2023
Insisting that profitability must be maintained as energy companies transition from fossil fuels to clean fuels has enabled Repsol to ratchet up its climate neutrality ambitions, making the company an industry leader.
6 December 2023
The threat of a big disruption to energy trade in the Middle East appears to be receding, but the fog of war is casting doubt on projects in the region
