# Offshore Energies UK (OEUK)

Type: organization

Source: Climate Intelligence Brief — https://getclimatebrief.com/entity/offshore-energies-uk-oeuk-organization
Canonical HTML page: https://getclimatebrief.com/entity/offshore-energies-uk-oeuk-organization

## Timeline

- **2026-03-04**: Reeves Meeting — Chancellor meets industry bosses to confirm the 2030 sunset clause.
- **2024-07-01**: Labor Policy Shift — The new government raises the EPL to 38% and extends it to 2030.
- **2023-01-01**: Rate Increase — The levy is increased to 35%, bringing the total tax rate to 75%.
- **2022-05-26**: EPL Introduced — Rishi Sunak introduces a 25% windfall tax on oil and gas profits.

## Recent coverage (2 stories)

### North Sea Investment Crisis: OEUK Warns of Urgent Need for Domestic Supply
2026-03-24 02:49:00 · Sentiment: Neutral · Impact: 6/10 · Sources: 5

Offshore Energies UK (OEUK) has issued a stark warning that the UK must accelerate domestic oil and gas production to ensure energy security and fund the energy transition. The trade body highlights that a lack of investment certainty is driving capital away from the North Sea, potentially leaving the UK overly reliant on imported fuels.
Full story: https://getclimatebrief.com/story/uk-north-sea-oil-gas-investment-crisis-oeuk

### Reeves Signals End to North Sea Windfall Tax to Stabilize Energy Investment
2026-03-04 17:02:15 · Sentiment: Bullish · Impact: 6/10 · Sources: 3

Chancellor Rachel Reeves is meeting with North Sea energy executives to reaffirm the government's commitment to ending the Energy Profits Levy by 2030. The move seeks to restore investor confidence following warnings that the current 78% marginal tax rate is driving capital out of the UK.
Full story: https://getclimatebrief.com/story/reeves-north-sea-windfall-tax-commitment

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