EnergyWatch

Oil companies support Maersk's North Sea tax demands

Several oil companies want more advantageous taxation in Denmark. Whether politicians decide to renegotiate it could prove crucial for the viability of the country's oil and gas industry, according to subcontractor Danoil.

Photo: /ritzau/CLAUS BONNERUP

Denmark's largest oil company, Maersk Oil, is not the only player looking to pay less tax on its earnings from Danish North Sea oil. Tuesday, Danish newspaper Børsen reports that oil industry subcontractors are also calling for political change to secure the future of their business.

CEO of Danoil, Svend Lykkemark Christensen, believes that the Danish oil and gas industry will shut down if a renegotiation of taxation and depreciation rules does not fall in the favor of the oil companies. Besides redrafting tax legislation, politicians need to find a solution for Maersk's sinking and soon-to-be defunct Tyra platform, which is a hub for the Danish offshore oil and gas production. Otherwise, the future looks bleak for the sector, he says:

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Employee of Danish marine fuel supplier charged for corruption in Singapore

A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.

EU awards big aid for Danish scaled green hydrogen push

The European Union has green-lit millions of euros of subsidy for a 100MW hydrogen project in Denmark with the involvement of several big domestic players. The project is meant to be the enabling stepping stone for GW-scale H2 projects as well as electrolysis at sea.

Further reading

Related articles

Trial banner

Latest News

See all jobs