• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

UK taxpayers face multi-billion burden for dismantling of North Sea rigs

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    UK taxpayers face multi-billion burden for dismantling of North Sea rigs

    "British taxpayers face paying billions of pounds more than previously expected for dismantling the North Sea’s oil rigs in a further sign that the industry is becoming a burden on public finances.

    Decommissioning oil and gas facilities across the UK continental shelf will cost an estimated £59.7bn, according to a report by the Oil and Gas Authority (OGA). About half of that will be borne by oil companies, the rest by the public purse through tax relief.

    The figure is even higher than a recent estimate of £53bn by the energy experts Wood Mackenzie and the business department’s previous estimate of £52bn.

    The OGA, a government regulator, said that in its worst-case scenario the bill could jump to £82.7bn. However, the authority said it had set the industry a target of cutting costs by 35%, which it hoped could see the cost drop below £39bn."

    https://www.theguardian.com/business...north-sea-rigs

    Oh FFS, tax relief isn't the same as funded, especially in this case FFS - it the Treasury was not so greedy under Brown those fields would generate lots more dosh.

    #2
    How the flying flip can it possibly cost anything like that much?

    Just cap off the oil or gas pipes and turn the rigs into high-security prisons. Sorted.
    Work in the public sector? Read the IR35 FAQ here

    Comment


      #3
      Originally posted by OwlHoot View Post
      How the flying flip can it possibly cost anything like that much?

      Just cap off the oil or gas pipes and turn the rigs into high-security prisons. Sorted.
      Or even 'hipster' holiday destinations....

      just put a decent coffee shop, vegan restaurant, barber and ensure there is enough wifi to go round and you have winner

      Comment


        #4
        #indyref2

        Comment

        Working...
        X