 for the third quarter of this year, compared to a record $11.5bn in the second quarter. North Sea oil and gas producers such as Shell have been hit with a windfall tax in the UK to try and fund the government's support for households. However, Shell has yet to owe any taxes under the new levy, as it is allowed to offset investments. Its North Sea business has not owed any taxes in Britain since 2017, due to investments and decommissioning costs that make it unprofitable. Jeremy Hunt, the chancellor, is understood to be considering extending the windfall tax as part of the Autumn Statement on November 17.){kind=link}
The payments are one part of a major Government package to shield households
Shell has been handed £90m of taxpayer cash under the Government’s scheme to help families with surging energy bills.
The oil and gas giant’s UK household supply division received £90,141,141 from the Government in October, according to official figures.
All suppliers are being sent cash by the Government each month so they can shave £400 off customers’ bills in instalments between now and March.
The payments are one part of a major Government package to shield households and businesses from soaring wholesale gas prices.