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Subsidising spills - British public pays BP $300 million to drill and spill

Subsidising spills – British public pays BP $300 million to drill and spill

BP came under criticism this week when it caused a 95 tonne oil leak from its Clair Field into the North Sea. The company decided not to clear up the spill, and wait for the oil to wash further out to sea. The new spill comes as BP no longer pays net taxes to the...
6 reasons why #Budget2016 really really shouldn't subsidise North Sea oil even more

6 reasons why #Budget2016 really really shouldn’t subsidise North Sea oil even more

Osborne is announcing his #Budget2016 on Weds, and there’s lots of pressure from the oil barons for more subsidies and tax cuts. Their income has been hit by the falling oil price, and in all those years of bonanza profits they never thought to save for this rainy day (even though it was predictable given the mostly cyclical...
Unpicking Nigeria's new draft oil law

Unpicking Nigeria’s new draft oil law

This guest blog was written by Jeremy Weate. He runs Naijablog and is on twitter. Over the past few years, Nigeria’s Petroleum Industry Bill (PIB) has acquired a mythic, if not theological framing. It’s as if the document, once gazetted, will provide a final judgement on the direction of reform of the sector. No matter the...

Nigeria could lose billions under new oil law

Today, the Nigerian Extractive Industries Transparency Initiative (NEITI) warned that Nigeria stands to lose billions of dollars in oil revenue over the coming years if the new oil law, the Petroleum Industry Bill (PIB) is passed unamended. “NEITI does not see the rationale for passing a bill that is designed to reduce government revenue from petroleum operations...