Gneiss Energy‘s Managing Director Jon Fitzpatrick featured on Natural Gas World this week, discussing the recent Norwegian government tax relief to oil and gas companies in the midst of the market downturn.
“The recent measures taken by the Norwegian government will provide much needed respite for an industry that has been caught off guard. Not only should this initiative safeguard jobs, but it will certainly encourage project investment in the short to medium term and allow businesses to retain their competitive position.”
“Conversely, on our side of the continental shelf, if the UK government doesn’t step in to provide fiscal support soon, further mass redundancies are inevitable. We are seeing companies of all sizes implement major Capex reductions as they adapt their business models to the new environment.”
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