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Windfall tax weighs on oil and gas investors as UK stocks dive
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fnlondon.comShares in independent UK oil-and-gas companies have plunged since the UK government hit them with a new 25% tax, a move that is expected to put billions of pounds into the Treasury’s coffers.
The valuation of some of the most-affected UK-focused names dropped by as much as 20% between 26 and 27 May, as investors digested the impact of the new Energy Profits Levy on these companies.
The...
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