Tax Breaks Boost Confidence and Activity in North Sea

Confidence levels have increased in the North Sea where tax breaks introduced last year have started to boost activity levels.

Oil & Gas UK said its confidence index increased to 60 in the last quarter of 2012 from 58 in the previous three months as services firms cashed in on increased investment in the North Sea by industry giants. A reading above 50 is considered positive.

The survey findings point to a marked increase in confidence among big operators of oil and gas fields, which the trade body said could be due to the introduction of several tax allowances by the UK Government in recent months.

Read the full story here: Tax breaks boost North Sea Activity

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