U.K. Industry Chief Urges Approval of North Sea Oil Projects

The boss of Britain’s largest industry body has called on the government to green-light extraction from two major North Sea oil fields and slash the windfall tax on domestic oil production in a bid to revitalise the country’s ailing oil and gas industry. CBI chief Rain Newton Smith said the North Sea was a “critical part” of the UK’s energy transition and that removing the additional tax on domestic producer profits and waving through the Jackdaw and Rosebank projects would encourage investment...