UK government attempts to allay oil company fears over North Sea taxes

Salman Shaheen

July 05, 2011

The Treasury has announced that the annual rate of the Ring Fence Expenditure Supplement (RFES) for the North Sea will be increased from 6% to 10% in an attempt to appease oil companies angry over higher oil taxes announced in this year’s budget.

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UK government attempts to allay oil company fears over North Sea taxes

The Treasury has announced that the annual rate of the Ring Fence Expenditure Supplement (RFES) for the North Sea will be increased from 6% to 10% in an attempt to appease oil companies angry over higher oil taxes announced in this year’s budget.

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