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Profitability and taxation in the UKCS oil and gas industry---analysing the distribution of rewards between company and country. I. Rutledge and P. Wright. Energy Policy, August 1998, 26(10), 795--812.

(This study was undertaken prior to the late 1998 price collapse of Brent crude). Taken against the background of record levels of UK hydrocarbon production and a government review of the UKCS tax regime, evidence is considered that the government's share of UKCS profits is very low by historical and international standards. It is demonstrated that the current tax regime is extremely weak.

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