North Sea producer slashes UK output due to windfall tax impact

Ithaca Energy, a North Sea oil and gas producer, is reducing UK production due to an unforeseen impact of the windfall tax

bp reduces climate targets after record profits

Following £23bn in profits, it has reduced the carbon emissions targets set for 2030 to invest in more oil and gas

Truss says “profit is not a dirty word”

Oil and gas trade body has urged Rishi Sunak and Liz Truss to remove the windfall tax