Oil and gas industry defends North Sea spending levels as Kwarteng urges more

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Oil and gas industry defends North Sea spending levels as Kwarteng urges more
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Business secretary calls for increased investment by energy producers to avoid being hit with tax on soaring profits

Executives at energy firms including BP were summoned to speak to the business secretary,, on Friday, to be told to invest more in UK projects, including the North Sea and offshore wind, in order to avoid being hit by a tax on their earnings.

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