{"id":399964,"date":"2025-09-04T09:04:07","date_gmt":"2025-09-04T07:04:07","guid":{"rendered":"https:\/\/climatescience.press\/?p=399964"},"modified":"2025-09-04T09:04:29","modified_gmt":"2025-09-04T07:04:29","slug":"reeves-faces-11bn-bill-over-milibands-north-sea-shutdown","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=399964","title":{"rendered":"Reeves \u2018faces \u00a311bn bill\u2019 over Miliband\u2019s North Sea shutdown"},"content":{"rendered":"\n
\"A<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Oil industry will claim tax rebates for dismantling platforms in rush to quit UK waters, energy boss says<\/em><\/strong><\/p>\n\n\n\n

Rachel Reeves will face a bill of up to \u00a311bn for Ed Miliband\u2019s North Sea shutdown, an energy executive has warned. <\/a>The Telegraph<\/a> has the story.<\/em><\/strong><\/p>\n\n\n\n

Brian Gilvary, the chairman of Ineos Energy, said Labour\u2019s policies were creating an \u201cextraordinary\u201d bill for taxpayers because energy companies can claim tax rebates for shutting down and dismantling platforms.<\/p>\n\n\n\n

When oil and gas companies decommission platforms and pipelines, they can claim about 25pc of the costs back from the Treasury. <\/p>\n\n\n\n

These costs were expected to be spread over decades, but Labour\u2019s windfall taxes and\u00a0drilling bans<\/a>\u00a0mean companies are rushing to leave the North Sea \u2013 meaning accelerated demand for tax rebates, Mr Gilvary said.<\/p>\n\n\n\n

\u201cThe 78pc tax rate imposed on UK oil and gas means that right now the industry is in a flight from the North Sea and towards decommissioning,\u201d he said.<\/p>\n\n\n\n

\u201cThe total costs are estimated at about \u00a344bn and taxpayers will be liable for about \u00a311bn of that, which is an extraordinary amount.\u201d<\/p>\n\n\n\n

Ineos operates the Breagh platform in the North Sea, 60 miles east of Teesside. It also runs the massive Forties Pipeline System which carries oil and gas from around 80 offshore fields back to UK shores.<\/p>\n\n\n\n

Such infrastructure is vital to the UK\u2019s energy security as well as generating billions of pounds for the Treasury, but\u00a0the windfall taxes<\/a>\u00a0imposed by the last Conservative government and raised again under Labour have changed the economics of the North Sea.<\/p>\n\n\n\n

Read the full story here <\/a><\/a>.<\/em><\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Rachel Reeves will face a bill of up to \u00a311bn for Ed Miliband\u2019s North Sea shutdown, an energy executive has warned. <\/p>\n","protected":false},"author":121246920,"featured_media":399967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"Discover how Labour's policies could lead to an \u00a311bn bill as energy firms rush to decommission North Sea platforms and claim tax rebates.","jetpack_seo_html_title":"UK Oil Industry Faces \u00a311bn Bill from North Sea Shutdown Plans","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691837709,691831484,691820049,691823489,691826921],"class_list":["post-399964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-drilling-bans","tag-energy-secretary-ed-miliband","tag-north-sea-oil-and-gas","tag-rachel-reeves","tag-windfall-taxes","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/09\/AQMALgHdF2ej733GE-OBSptieZHYyPeIb4m0m-xmExY0p1mc6ZcuFPw4nkGaxQUetd7oKlzEXtObBrDudjwxcLYQp1NVZyKQX8_Fg6G8-GUBwhKAh9rUEAMrWPQ-ypZAQ1MSe4Bur0Ssp4SUbZS_3bMKt_R8vg.jpeg?fit=1280%2C1280&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1G32","jetpack-related-posts":[{"id":381813,"url":"https:\/\/climatescience.press\/?p=381813","url_meta":{"origin":399964,"position":0},"title":"Mad Miliband Is Out Of\u00a0Control","author":"uwe.roland.gross","date":"06\/06\/2025","format":false,"excerpt":"Ed Miliband, it seems, is now totally out of control. Even Starmer and Reeves are no longer able to reign him in.","rel":"","context":"In \"Department of Energy & Climate Change\"","block_context":{"text":"Department of Energy & Climate Change","link":"https:\/\/climatescience.press\/?tag=department-of-energy-climate-change"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/0ac713df8-a2c0-4f1b-af0d-f70f64a95b10.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/0ac713df8-a2c0-4f1b-af0d-f70f64a95b10.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/0ac713df8-a2c0-4f1b-af0d-f70f64a95b10.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":341508,"url":"https:\/\/climatescience.press\/?p=341508","url_meta":{"origin":399964,"position":1},"title":"Top North Sea oil field in jeopardy after Miliband crackdown","author":"uwe.roland.gross","date":"09\/04\/2024","format":false,"excerpt":"One of the North Sea\u2019s biggest oil field developments is in jeopardy after developers put the project on hold following\u00a0a crackdown by Ed Miliband.","rel":"","context":"In \"Ed Miliband\"","block_context":{"text":"Ed Miliband","link":"https:\/\/climatescience.press\/?tag=ed-miliband"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0oillll.webp?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0oillll.webp?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0oillll.webp?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0oillll.webp?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":366235,"url":"https:\/\/climatescience.press\/?p=366235","url_meta":{"origin":399964,"position":2},"title":"Giant Gas Field Discovery Could Power Britain for a Decade","author":"uwe.roland.gross","date":"02\/15\/2025","format":false,"excerpt":"A giant gas field has been discovered under Lincolnshire that could fuel the UK\u2019s entire needs for a decade, reducing\u00a0dependence on imports\u00a0and generating tens of thousands of jobs, an energy company has said.","rel":"","context":"In \"Economic growth\"","block_context":{"text":"Economic growth","link":"https:\/\/climatescience.press\/?tag=economic-growth"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0705215.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0705215.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0705215.jpeg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0705215.jpeg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0705215.jpeg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":448404,"url":"https:\/\/climatescience.press\/?p=448404","url_meta":{"origin":399964,"position":3},"title":"BP Plans North Sea Exit After Labour\u2019s Tax Raid","author":"uwe.roland.gross","date":"06\/04\/2026","format":false,"excerpt":"BP is preparing to exit or significantly reduce its presence in the UK North Sea after more than 60 years, with a potential sale of its UK offshore operations reportedly in play (possibly to buyers like Ithaca, though talks may have stalled).","rel":"","context":"In \"British Petroleum (BP)\"","block_context":{"text":"British Petroleum (BP)","link":"https:\/\/climatescience.press\/?tag=british-petroleum-bp"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/06\/0-BP-Plans-North-Sea-Exit-After-Labours-Tax-Raid.jpg?fit=1168%2C784&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/06\/0-BP-Plans-North-Sea-Exit-After-Labours-Tax-Raid.jpg?fit=1168%2C784&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/06\/0-BP-Plans-North-Sea-Exit-After-Labours-Tax-Raid.jpg?fit=1168%2C784&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/06\/0-BP-Plans-North-Sea-Exit-After-Labours-Tax-Raid.jpg?fit=1168%2C784&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/06\/0-BP-Plans-North-Sea-Exit-After-Labours-Tax-Raid.jpg?fit=1168%2C784&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":364170,"url":"https:\/\/climatescience.press\/?p=364170","url_meta":{"origin":399964,"position":4},"title":"UK Must Cut Emissions By 64% In Next Ten\u00a0Years","author":"uwe.roland.gross","date":"02\/01\/2025","format":false,"excerpt":"Ed Miliband has promised Britain will slash its climate emissions by more than 60pc by 2035 in a move that risks direct conflict with Rachel Reeves\u2019s\u00a0airport expansion plans.","rel":"","context":"In \"2035 Clean Power targets\"","block_context":{"text":"2035 Clean Power targets","link":"https:\/\/climatescience.press\/?tag=2035-clean-power-targets"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0shutterstock_editorial_12467730d-2000x1331-1.jpg?fit=1200%2C799&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0shutterstock_editorial_12467730d-2000x1331-1.jpg?fit=1200%2C799&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0shutterstock_editorial_12467730d-2000x1331-1.jpg?fit=1200%2C799&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0shutterstock_editorial_12467730d-2000x1331-1.jpg?fit=1200%2C799&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0shutterstock_editorial_12467730d-2000x1331-1.jpg?fit=1200%2C799&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":282697,"url":"https:\/\/climatescience.press\/?p=282697","url_meta":{"origin":399964,"position":5},"title":"Ed Miliband Wants \u00a3200 Billion Of Your Money To Plaster The Countryside With\u00a0Pylons","author":"uwe.roland.gross","date":"10\/10\/2023","format":false,"excerpt":"From NOT A LOT OF PEOPLE KNOW THAT By Paul Homewood The\u00a0march of electricity pylons across Britain\u2019s countryside is set to accelerate under Labour plans to make it easier to build new transmission lines across hills and open countryside. Ed Miliband, shadow energy secretary, and Rachel Reeves, the shadow chancellor,\u2026","rel":"","context":"In \"\u00a3200bn\"","block_context":{"text":"\u00a3200bn","link":"https:\/\/climatescience.press\/?tag=200bn"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/00electrical-towers-1230495.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/00electrical-towers-1230495.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/00electrical-towers-1230495.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/00electrical-towers-1230495.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/00electrical-towers-1230495.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/399964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=399964"}],"version-history":[{"count":6,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/399964\/revisions"}],"predecessor-version":[{"id":399971,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/399964\/revisions\/399971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/399967"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=399964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=399964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=399964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}