NSTA revises UK North Sea oil investment and output outlook [Yahoo! Finance]
Equinor ASA (EQNR)
Last equinor asa earnings: 2/6 12:43 am
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Source: Yahoo! Finance
The NSTA reported that capital expenditure (capex) reached £5.95bn ($7.7bn) last year, significantly surpassing an earlier projection, reported Bloomberg Although this year's investments are expected to decrease to £4.8bn, they remain well above previous forecasts following the Labour Government's tax increase on the industry. Companies have expressed concerns over high taxes and policy uncertainties, prompting some to consider projects elsewhere, the report said. Oil and gas investments in the UK North Sea are being closely monitored as the government consults on the basin's future. The NSTA's revised forecasts are based on updated industry data. Offshore Energies UK, an industry lobby group, noted that last year's surge in upstream in
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