UK Holds Talks With Oil and Gas Firms on Ending Windfall Tax (1)

The UK Treasury is considering scrapping a controversial windfall tax on North Sea oil and gas following persistent pushback from producers, according to a person familiar with the matter.

Ministers have been holding meetings with industry representatives to explore the impact of ending the Energy Profits Levy before it expires in 2030, according to the person, who asked not to be identified discussing private deliberations.

The talks come as the governing Labour Party seeks to balance ambitious climate goals with energy security and jobs. It’s contending with the rise of Nigel Farage’s Reform UK, which has pledged to scrap the ...