by westoncompliance | May 30, 2025 | Finance, HM Treasury, Tax, UK
The HM Treasury held a consultation to help develop a predictable fiscal response to future oil and gas price shocks.DESNZ had launched a separate consultation, ‘Building the North Sea’s Energy Future’, which sets out the framework for the future of energy in the...
by westoncompliance | May 1, 2025 | Carbon Capture and Storage, DESNZ, Environment, Finance, Licensing, Maximising Economic Recovery (MER), Net Zero, NSTA, Renewables, Tax, UK
DESNZ held a consultation seeking views on delivering the government’s commitment to support a managed North Sea transition into clean energy.This consultation closed on 30 April 2025.Read more…Source: DESNZ.
by westoncompliance | Apr 24, 2025 | Carbon Capture and Storage, Finance, OEUK, UK
Offshore Energies UK (OEUK) has published a report which outlines a clear path for transitioning the UK’s carbon capture, utilisation and storage (CCUS) sector from a government-supported model to a fully commercial, investor-led market.Read more…Source:...
by westoncompliance | Mar 14, 2025 | Fees, Finance, HM Treasury, UK
The HM Treasury has opened a consultation to help develop a predictable fiscal response to future oil and gas price shocks.The Department for Energy Security and Net Zero (DESNZ) has launched a separate consultation, ‘Building the North Sea’s Energy Future’,...
by westoncompliance | Mar 6, 2025 | Carbon Capture and Storage, DESNZ, Environment, Finance, Licensing, Maximising Economic Recovery (MER), Net Zero, NSTA, Renewables, Tax, UK
The Department for Energy Security and Net Zero (DESNZ) are seeking views on delivering the government’s commitment to support a managed North Sea transition.This government is driving the development of an internationally-leading offshore clean energy industry, which...
by westoncompliance | May 24, 2024 | Concession owner, Finance, Permits and Licences
The present Decree shall establish the Transfer Pricing Regime applicable to certain commercial operations in the New Gas Consortium’s Concession Area to provide greater stability and economic viability to the New Gas Consortium project, by creating specific tax rules...
by westoncompliance | Dec 7, 2023 | Decommissioning, DESNZ, Finance, Offshore Installation, Pipelines, UK
The Department of Energy Security and Net Zero (DESNZ) has published guidance that outlines how the government assesses the financial capability of persons with a relevant interest in or considering taking an interest in an offshore oil or gas field. Read more…...
by westoncompliance | Apr 24, 2023 | Fees, Finance, NSTA, NSTA Strategy, UK
The North Sea Transition Authority (NSTA) has updated the webpage ‘Industry levy’ found under ‘Regulatory Framework’ > ‘Legislative context’. Over 99% of the levy of £32.9m for the financial year 2022-23 was collected. An underspend...
by westoncompliance | Apr 4, 2023 | Carbon Capture and Storage, CO2, Consents, Fees, Finance, Licensing, NSTA, NSTA Strategy, Offshore Installation, Permits and Licences, UK
The North Sea Transition Authority (NSTA) charges fees for a range of services to specific licence holders, including consents issued under petroleum licences, offshore methane gas and carbon dioxide storage licences and for pipeline works authorisations issued under...
by westoncompliance | Apr 3, 2023 | Carbon Capture and Storage, CO2, Consultation, DESNZ, Environment, Finance, Hydrogen, UK, Waste
The Department for Energy Security and Net Zero (DESNZ) is currently seeking views on proposals for revenue support regulations in relation to the hydrogen production, industrial carbon capture (ICC) and waste ICC business models. This consultation closes at 11:45pm...
by westoncompliance | Dec 15, 2022 | Environment, Finance, NSTA, NSTA Strategy, UK
The North Sea Transition Authority (NSTA) has published its inaugural Environmental, Social and Governance (ESG) Disclosure Report. The report says that ongoing access to finance depends on oil and gas companies’ ability to demonstrate strong ESG credentials and that...
by westoncompliance | Nov 22, 2022 | Finance, NSTA, NSTA Strategy, UK
The North Sea Transition Authority (NSTA) has made the following updates to its ‘Taxation Overview’ webpage within the Exploration and Production part of its website: Energy Profits Levy (EPL) – The current rate of 25% will increase to 35% from 1...
by westoncompliance | Nov 16, 2022 | Consents, Consultation, Decommissioning, Finance, Licensing, NSTA, NSTA Strategy, Permits and Licences, UK
In May 2022, Tom Wheeler, the NSTA’s then Director of Regulation (now Director of Operations), wrote to offshore licensees highlighting that the NSTA will launch a consultation later in the year intended to inform guidance setting out how the NSTA expects co-venturers...
by westoncompliance | Jul 21, 2022 | Finance, UK
An Act to make provision for, and in connection with, imposing a charge on ring fence profits of companies. Read more… Source: HMSO.
by westoncompliance | Jul 11, 2022 | Conservation, Defra, Environment, Finance, Habitat, JNCC, UK
The framework document: – sets out JNCC’s core responsibilities – describes the governance and accountability framework that applies between the roles of Defra and JNCC – sets out how the day-to-day relationship works in practice, including in...
by westoncompliance | May 25, 2022 | Environment, Finance, NSTA, NSTA Strategy, Supply Chain, UK
The North Sea Transition Authority (NSTA) has published its new Supply Chain Report on 25 May 2022, highlighting a bright outlook for the UK energy service sector, with billions of pounds worth of investment in the pipeline. It explains how the NSTA is using four...
by westoncompliance | May 24, 2022 | Consents, Decommissioning, Finance, Licensing, NSTA, NSTA Strategy, Permits and Licences
On 17 May 2022, Tom Wheeler, the NSTA’s Director of Regulation, wrote to offshore licensees highlighting that the NSTA will launch a consultation this summer intended to inform guidance setting out how the NSTA expects co-venturers to approach M&A...
by westoncompliance | Feb 7, 2022 | Environment, Finance, UK
This Order varies section 153(1) of the Environmental Protection Act 1990 by adding further descriptions of matters for which the Scottish Ministers may give financial assistance. Read more… Source: HMSO.
by westoncompliance | Sep 28, 2021 | Climate Change, Consents, Conservation, Environment, Finance, Net Zero, UK
This Order varies section 153(1) of the Environmental Protection Act 1990 so as to enable the Secretary of State, with the consent of the Treasury, to give financial assistance to, or for the purposes of, Cenex (Centre of Excellence for Low Carbon and Fuel Cell...
by westoncompliance | Apr 7, 2021 | Consents, Environment, Fees, Finance, NSTA, OGA, Permits and Licences, UK
The Oil and Gas Authority (OGA) charges fees for a range of services to specific licence holders, including consents issued under petroleum licences, offshore methane gas and carbon dioxide storage licences and for pipeline works authorisations issued under Part III...
