Norway’s Equinor may reconsider investing in oil and gas in Britain if the Labour government changes the industry’s fiscal regime, a top company executive told Reuters.
Equinor’s head of international operations said it may not be as attractive to invest in the British oil and gas sector if taxation of oil companies changes, as is expected.
“We need to look at our appetite to invest further in the UK based on the fiscal regime… it could be that the economics are really, really hard impacted,” Philippe Francois Mathieu said in an interview on the sidelines of an energy conference this week.
“And in that case, we need to look into what we want to do further with the Rosebank project.”
(Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)