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Tue · 25 Aug 2026

UK Closes Tax Loophole on Oil and Gas Profits Amid Hormuz Shock

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UK Closes Tax Loophole on Oil and Gas Profits Amid Hormuz Shock

🛢️ LONDON — UK taxes the producers it's also protecting consumers from. 📌 LOOK CLOSER: Closing an oil loophole while extending fuel duty cuts is a fiscal double move — absorbing Hormuz inflation with one hand, funding it by taxing windfall gains with the other. Downing Street is treating this as structural, not emergency. North Sea operators take the hit; UK energy investment appetite narrows at the worst moment.

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