The Telegraph
Shell reconsiders £25bn investment in UK energy over windfall tax raid
Levies will force oil giant to ‘rerun the economics’ on future projects, says UK chairman
By Matt Oliver and Szu Ping Chan: 21 November 2022 • 7:03pm
Shell is reviewing plans to invest £25bn in Britain’s energy system after Jeremy Hunt raided the industry for £55bn in windfall taxes.
David Bunch, Shell’s UK chairman, said the expanded levy announced in the Chancellor’s Autumn Statement is forcing the company to re-examine a slew of projects in the pipeline, from North Sea investments to renewable energy schemes.