UK Adds New Tax Pressure as Energy Security Concerns Grow

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• Free Analysis Rule Based Analysis not AI OIL Bearish 70% 6h
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Original source

Britain is tightening another screw on its oil and gas sector, this time by closing a tax structure that officials say allowed multinational energy firms to sharply reduce taxes on profits generated from UK operations. Finance Minister Rachel Reeves said Thursday the government will end a practice allowing losses from foreign branches to offset taxable UK profits, a move she said was being used by some oil and gas companies to pay "little or no corporation tax" on British energy trading income. "Today we're putting an end to that practice," Reeves…

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Original article published by OilPrice.com on May 21, 2026. Analysis and insights provided by AnalystMarkets AI.

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