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The Oil and Gas (Enterprise) Act 1982 (c. 23) is an Act of the Parliament of the United Kingdom which started the process of privatisation of the oil and gas industries in the UK. It empowered the government to float off and sell shares in Britoil the upstream production side of the British National Oil Corporation .
English: An Act to make further provision with respect to the British National Oil Corporation; to abolish the National Oil Account; to make further provision with respect to the British Gas Corporation; to make provision for and in connection with the supply of gas through pipes by persons other than the Corporation; to amend the Petroleum (Production) Act 1934 and to make further provision ...
Oil and Pipelines Act 1985 (c. 62) abolishes the British National Oil Corporation, establishes the Oil and Pipelines Agency: 1985 UK oil exports peaked 1986 Advance Petroleum Revenue Tax Act 1986 (c. 68), repayment of advance petroleum revenue tax 1986 Gas Act 1986 (c. 44), privatised the gas industry, established British Gas and Ofgas as regulator
An additional "supplementary charge" of 10% of profits was introduced in 2002 to ensure a ‘fair return’ to the state, because ‘oil companies [were] generating excess profits’. [125] Finally, under the Petroleum Act 1998 sections 29–45 require responsible decommissioning of oil and gas infrastructure. Under section 29, the Secretary of ...
This is a list of UK Public General Acts, ... Statutory Gas Companies (Electricity Supply Powers) Act 1925 ... (Oil and Gas) Profits Levy Act 2022 (c. 40) United States
The UK Government revealed plans to mandate oil and gas licensing in the North Sea in a bid to reduce dependency on “hostile foreign regimes”, it will be announced in the King’s Speech.
Petroleum Revenue Tax (PRT) is a direct tax collected in the United Kingdom.It was introduced under the Oil Taxation Act 1975, soon after Harold Wilson's Labour government returned to power and in the immediate aftermath of the 1973 energy crisis, and was intended to ensure "fairer share of profits for the nation" from the exploitation of the UK's continental shelf, while ensuring a "suitable ...
Hyprep was part-funded by oil companies including the state-owned Nigerian National Petroleum Company (NNPC) and Shell, which gave $350m. Fishermen showed the BBC that oil is present in the ...