The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
The Telegraph cites city sources, stating EnQuest has raised concerns directly with the UK Government, and quotes them as saying the levy in its current form creates “uncertainty about the investment climate for North Sea oil and gas for years to come”.
They added: “Longer term, the proposed tax reliefs for investment don’t extend to the renewable energy system we want to drive forward in the UK and invest in very substantially. When making plans for the next decade and beyond, we need certainty.”
Shares in EnQuest, Serica and Harbour Energy all dropped last week as analysts at Jefferies released research showing the impact of the £5bn levy on each firm.
https://www.energyvoice.com/oilandgas/north-sea/415539/windfall-tax-north-sea-serica-harbour-enquest/
North Sea oil and gas producers hit back at Sunak’s £5bn windfall tax
Dismayed sector warns ‘multiyear’ assault on profits will ‘drive away investors’ and cut production
https://www.ft.com/content/9a4b6272-86da-436f-a8c0-fb697d18c303
The process of driving away investors has started and will continue....II will have a lots to offload and will drip feed into the market
Need To Know: Analysts Just Made A Substantial Cut To Their EnQuest PLC (LON:ENQ) Estimates
https://simplywall.st/stocks/gb/energy/lse-enq/enquest-shares/news/need-to-know-analysts-just-made-a-substantial-cut-to-their-e-1
Its all starting now!!!
So baby don't worry, you are my only
You won't be lonely, even if the sky is falling down
You'll be my only, no need to worry
Baby are you down, down, down, down, down? (Down, down)
Baby are you down, down, down, down, down? (Down, down)
Even if the sky is falling down?