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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
BP to invest in ETAP
BP is to invest some £670mn in the Eastern Trough Area Project (ETAP), looking to secure the future of the central North Sea fields until 2030 and beyond. The group reports that the investment is linked to the UK government’s recently introduced tax breaks, including a 10% cut in supplementary tax and a 15% cut in petroleum revenue taxes. The news comes at a time when many other North Sea operators have embarked on cost-cutting exercises in the face of continued low oil prices.
News Item details
Journal title: Petroleum Review
Organisation: BP
Subjects: Banking, finance and investment, Taxation
