Tag: taxes
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India abolishes exceptional taxes on oil as global prices fall
It seems that the recent decline in oil prices has prompted India to abandon the exceptional taxes imposed on crude producers, and has also made adjustments to taxes on some types of fuel. New Delhi had previously pledged to review the tax rate linked to fluctuations in oil prices in global markets, according to what…
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The closure of one of the largest oil fields in the North Sea due to exceptional taxes
Canada’s Canadian Natural Resources International has decided to shut down the Ninian field, one of the largest oil fields in the North Sea, given difficult market conditions, due to high natural gas production costs, unexpected taxes and lower UK business prospects. The company is working to “accelerate the abandonment” of its two remaining Ninian South…
