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Reeves urged to examine ‘legality’ of Shell-Equinor deal to create new company
Campaigners say the Adura deal could reduce Shell’s tax bill by using Equinor’s losses while boosting Equinor’s profits, amid North Sea oil field challenges.
- Chancellor Rachel Reeves is being urged to investigate the Adura deal bringing Shell and Equinor together, which would be based in Aberdeen and become the North Sea's biggest producer.
- Campaigners say Adura would let Shell write off tax liabilities using losses from Equinor, and groups including Stop Rosebank and Tax Justice UK claim this merger aims to avoid paying a fair share ahead of the autumn Budget.
- Equinor confirmed last month it submitted a new assessment for Rosebank oil field, west of Shetland, while Shell paid 1.45 billion dollars in UK corporate tax in 2023 at a 78% North Sea tax rate.
- Campaigners urge autumn Budget action, saying Chancellor Rachel Reeves must ensure major polluters pay as the Treasury declined to comment on Adura’s tax affairs.
- Shell counters that a Supreme Court ruling on emissions has cast doubt on Rosebank's approval, rejecting campaigners' flawed analysis while highlighting billions invested in oil and gas production.
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Fossil Free London confront perennial tax dodgers Shell and BP in the space of two days
Fossil Free London is calling for perennial tax dodger Shell to cough up the £1.3bn they owe. Shell: under pressure On Thursday 6 November they protested outside the Treasury. The campaign group say Shell’s merger with Norwegian firm Equinor has allowed it to dodge a massive tax bill. In fact, they even claim the move got Shell a £12mn rebate! The companies want to exploit Rosebank, the biggest unexplored oil field in UK waters. BREAKING : Acti…
·United Kingdom
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Evening Standard+40 Reposted by 40 other sources
Reeves urged to examine ‘legality’ of Shell-Equinor deal to create new company
Campaigners opposed to the Rosebank oil field, of which Equinor is a majority shareholder, are amongst those raising concerns with the Chancellor.
·London, United Kingdom
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Coverage Details
Total News Sources44
Leaning Left4Leaning Right0Center33Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
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