{"id":410945,"date":"2025-10-30T12:23:43","date_gmt":"2025-10-30T11:23:43","guid":{"rendered":"https:\/\/climatescience.press\/?p=410945"},"modified":"2025-10-30T12:23:45","modified_gmt":"2025-10-30T11:23:45","slug":"did-punitive-british-net-zero-taxes-just-bankrupt-an-oil-company","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=410945","title":{"rendered":"Did Punitive British Net Zero Taxes Just Bankrupt an Oil Company?"},"content":{"rendered":"\n
\"An<\/figure>\n\n\n\n

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

From Watts Up With That?<\/a><\/p>\n\n\n\n

Essay by<\/strong> Eric Worrall<\/a><\/p>\n\n\n\n

h\/t Strativarius<\/a> \u2013 Thousands of jobs at risk \u201c\u2026 have applied to the High Court of England and Wales to appoint administrators. \u2026\u201d<\/p>\n\n\n\n

\n

North Sea oil giant falls into administration with thousands of jobs at risk after energy tax row<\/strong><\/p>\n\n\n\n

By Patrick O\u2019Donnell<\/a>
Published: 27\/10\/2025 \u2013 07:58
Updated: 27\/10\/2025 \u2013 08:30<\/p>\n\n\n\n

A major North Sea oil and energy giant has filed for administrators in a move placing thousands of jobs at risk amid ongoing scrutiny over windfall taxes imposed on the sector.<\/p>\n<\/blockquote>\n\n\n\n

\n

\u2026<\/p>\n\n\n\n

In a statement, a spokesperson for Petrfoac shared: \u201cHaving carefully assessed its options, and the impact of TenneT\u2019s decision\u2026 the directors of Petrofac Limited have applied to the High Court of England and Wales to appoint administrators.<\/p>\n\n\n\n

\u201cWhen appointed, administrators will work alongside executive management to preserve value, operational capability and ongoing delivery across the group\u2019s operating and trading entities.\u201d<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

The firm falling into administration would be another obstacle the Labour Government will have to address as ministers attempt to lower bills and keep the UK energy sector afloat.

\u2026<\/p>\n\n\n\n

In recent months, industry representatives have urged the Government to axe windfall taxes on oil giant as part of Chancellor Rachel Reeves\u2019s Autumn Budget.

\u2026Read more: https:\/\/www.gbnews.com\/money\/economy-north-sea-oil-petrofac-administration-jobs-energy-tax<\/a><\/p>\n<\/blockquote>\n\n\n\n

Appointing administrators in Britain is similar to US Chapter 11<\/a>.<\/p>\n\n\n\n

Naturally this criticism of excessive taxes appears to have triggered a finger pointing blame storm, rather than a genuine effort to fix the problem.<\/p>\n\n\n\n

\n

Swinney \u2018spreading misinformation\u2019 on Petrofac<\/strong><\/p>\n\n\n\n

Terry Murden, Editor<\/a> | October 27, 2025<\/a><\/p>\n\n\n\n

UK Energy minister Michael Shanks has accused First Minister John Swinney of spreading \u201cdeliberate misinformation\u201d on the troubles at oil services company Petrofac.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

In a post on social media site X, he said: \u201cThis is incredibly concerning news for employees of Petrofac, their families, and the wider community. The UK Government must urgently revisit the Energy Profits Levy,\u201d adding that \u201cScotGov stands ready to support all those affected by today\u2019s news.\u201d<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

[UK Energy Minister] Mr Shanks said: \u201cThe administration of Petrofac\u2019s top company is a product of longstanding issues in their global business. The UK arm has not entered administration and is continuing to operate as normal.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

\u201cThis is deliberate misinformation and reckless, especially from the First Minister [of Scotland]. The UK arm of Petrofac is a successful, growing company and all of us have a responsibility to support it, not to undermine it.\u201d

\u2026Read more: https:\/\/dailybusinessgroup.co.uk\/2025\/10\/swinney-spreading-misinformation-on-petrofac\/<\/a><\/p>\n\n\n\n

\"A<\/figure>\n<\/blockquote>\n\n\n\n

The full first article also mentions Petrofac were embroiled in a Middle Eastern corruption scandal, in 2021 they were fined \u00a370 million for paying bribes to secure contracts in the Middle East.<\/a><\/p>\n\n\n\n

It is possible management incompetence contributed \u2013 getting busted paying bribes in the Middle East suggests a level of carelessness. But punitive British energy windfall taxes imposed by Britain\u2019s deep green socialist administration can\u2019t have helped.<\/p>\n\n\n\n

The high profile bankruptcy and public argument between senior politicians risks alerting ordinary Britons to the realisation a large part of their utility bill pain is caused by energy companies passing on government taxes and compliance costs.<\/p>\n\n\n\n

Whatever happens this is bad for the current UK government. If the Starmer government caves and offers Petrofac a lifeline, other North Sea companies will demand equal treatment. But if they let Petrofac fall, Scotland, traditionally a strong support base for the current administration in national elections, might change their minds about who they support.<\/p>\n\n\n\n

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

Thousands of jobs at risk \u201c\u2026 have applied to the High Court of England and Wales to appoint administrators. \u2026\u201d<\/p>\n","protected":false},"author":121246920,"featured_media":410950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"North Sea oil giant Petrofac files for administration, risking thousands of jobs amid windfall tax scrutiny. 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This is contrary to claims commonly made by activists and mainstream media sources that green energy is cheaper than\u2026","rel":"","context":"In \"Biden Administration\"","block_context":{"text":"Biden Administration","link":"https:\/\/climatescience.press\/?tag=biden-administration"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-85.png?fit=1200%2C667&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-85.png?fit=1200%2C667&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-85.png?fit=1200%2C667&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-85.png?fit=1200%2C667&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-85.png?fit=1200%2C667&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":409109,"url":"https:\/\/climatescience.press\/?p=409109","url_meta":{"origin":410945,"position":1},"title":"Trump Admin Blows Up UN \u2018Global Green New Scam\u2019 Tax Push, Forcing Pullback","author":"uwe.roland.gross","date":"19\/10\/2025","format":false,"excerpt":"A United Nations (UN) proposal for a global carbon tax, which threatened to raise consumer costs, was tabled on Friday following pressure from the Trump administration.","rel":"","context":"In \"carbon dioxide (CO\u2082)\"","block_context":{"text":"carbon dioxide (CO\u2082)","link":"https:\/\/climatescience.press\/?tag=carbon-dioxide-co%e2%82%82"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/AQPR9bYL4ZR8AUPB0nyUFkddsF-87LISO5tjU7fuWVIF36qz6nT4T0Hx-vf6r5sD4AoL54UbNSGw_0DdmTEuexAVb1KNYxAvGuJmWsbAVb_ceiXALGBOQhPjUYXDbcEr.jpeg?fit=1200%2C701&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/AQPR9bYL4ZR8AUPB0nyUFkddsF-87LISO5tjU7fuWVIF36qz6nT4T0Hx-vf6r5sD4AoL54UbNSGw_0DdmTEuexAVb1KNYxAvGuJmWsbAVb_ceiXALGBOQhPjUYXDbcEr.jpeg?fit=1200%2C701&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/AQPR9bYL4ZR8AUPB0nyUFkddsF-87LISO5tjU7fuWVIF36qz6nT4T0Hx-vf6r5sD4AoL54UbNSGw_0DdmTEuexAVb1KNYxAvGuJmWsbAVb_ceiXALGBOQhPjUYXDbcEr.jpeg?fit=1200%2C701&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/AQPR9bYL4ZR8AUPB0nyUFkddsF-87LISO5tjU7fuWVIF36qz6nT4T0Hx-vf6r5sD4AoL54UbNSGw_0DdmTEuexAVb1KNYxAvGuJmWsbAVb_ceiXALGBOQhPjUYXDbcEr.jpeg?fit=1200%2C701&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/AQPR9bYL4ZR8AUPB0nyUFkddsF-87LISO5tjU7fuWVIF36qz6nT4T0Hx-vf6r5sD4AoL54UbNSGw_0DdmTEuexAVb1KNYxAvGuJmWsbAVb_ceiXALGBOQhPjUYXDbcEr.jpeg?fit=1200%2C701&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":411795,"url":"https:\/\/climatescience.press\/?p=411795","url_meta":{"origin":410945,"position":2},"title":"Eco-Activists\u2019 Courtroom Carbon Tax Must Be Stopped","author":"uwe.roland.gross","date":"06\/11\/2025","format":false,"excerpt":"\u201cU.S. helps sink world\u2019s first global carbon tax,\u201d read\u00a0the headline. 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