SOME PIPELINES TO BENEFIT FROM U.K. PRT CHANGES

New pipelines carrying third party production will benefit from changes to the U.K. Petroleum Revenue Tax system announced Nov. 30. In unveiling Britain's second budget this year, Chancellor Kenneth Clarke said companies could pay tax on a portion of pipeline construction costs. In return, pipeline owners will receive tax free tariffs for pipeline use by third parties producing from new fields after Jan. 1, 1996. The March budget abolished tax relief on pipeline tariffs paid by new field

In order to access this content, you must be logged-in and have an active subscription to the OGJ Premium Archive

Subscribe

More in Home