The Chancellor is being pressed to replace the so-called windfall tax on North Sea energy operators to halt the decline and protect jobs in the sector.

A group of senior industry figures, led by major gas infrastructure firm Kellas Midstream, is calling for early reform to the tax - formally the Energy Profits Levy - which was temporarily introduced in 2022 following Russia's invasion of Ukraine which sent energy prices soaring and led to bumper profits. The Levy was increased last year to give a headline rate of 78%, and extended until 2029.

But industry leaders, including the Offshore Energies UK (OEUK) body, have repeatedly said the tax is deterring investment and causing a loss of jobs which could threaten the country's ability to transition to green energy. Kellas Midstream, which o

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