The Scotsman, by David Bol, on Climate, 15 November 2026

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North Sea oil and gas mergers ‘suppressing’ tax receipts as Treasury revenue poised to dwindle

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The Scotsman reports the OBR's forecast that North Sea oil and gas mergers will keep £1.3bn out of tax receipts over the next five years, and that revenue will fall from around £5bn this year to close to zero by 2030-31. It quotes the OBR's Tom Josephs, Tessa Khan of Uplift, Professor Alex Kemp of Aberdeen University and Enrique Cornejo of Offshore Energies UK, the North Sea oil and gas trade body, on the forecast and its causes.

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