As the dust continues to settle over the United Kingdom (UK) government’s decision to retain the energy profits levy (EPL), known as the windfall tax on oil and gas profits, Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has expressed its dissatisfaction with the move it portrays as a bitter blow to the UK’s energy workers and industry players.

The windfall tax, introduced in response to a spike in global energy prices in May 2022 as an additional tax on the profits made by companies producing oil and gas from the waters off the coast of Britain, has been a bone of contention for some time, as it is now set at 78%.