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Article Summary
- US company Apache is planning to exit the UK North Sea due to a windfall tax
- The company is currently in discussions with the UK government regarding this decision
- Apache's decision to exit the UK North Sea is part of a broader trend of oil companies divesting assets in the region
- The windfall tax is said to be a major factor in Apache's decision to leave the UK North Sea
- This move could have significant implications for the oil and gas industry in the UK
- The tone of the article is informative and neutral
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U.S. Apache To Exit UK North Sea Due To Windfall Tax
U.S. oil producer Apache plans to cease oil production at its assets in the UK North Sea by 2030, due to the windfall tax on operators. Apaches parent company APA Corporation said in an SEC filing that its assessment of the impact of the windfall tax, officially known as the Energy Profits Levy (EPL), resulted in findings that continued production in the UK North Sea would be uneconomical. ...
https://oilprice.com/Latest-Energy-News/World-News...
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