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Oil association warns against increased oil taxation

The industry association Oil Gas Denmark is looking to make use of the Danish Government’s examination of the North Sea Agreement to explain why taxation increases will have a boomerang effect.

Now, the Danish oil industry actively takes part in the debate over the content of the pending examination of the North Sea Agreement; an agreement which was signed by the former Danish Government and the oil industry led by the Maersk Group in 2003 securing an allocation of the incomce between the producers and the Danish state. Recently the agreement has come under some criticism for having taxated the companies too little which has prompted the Danish Government led by the Social Democrats to order an examination of the agreement. 

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