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Jersey Oil and Gas ( (GB:JOG) ) has provided an update.
Jersey Oil & Gas acknowledges the UK Government’s decision to implement the Oil and Gas Price Mechanism (OGPM) as a successor to the Energy Profits Levy. The OGPM will impose a 35% tax on revenues exceeding threshold prices, with the mechanism coming into effect by 2030 or earlier if certain conditions are met. This new tax regime provides clarity for the company and its partners, NEO Next Energy and Serica Energy, as they evaluate its impact on the Buchan project.
More about Jersey Oil and Gas
Jersey Oil & Gas is an independent upstream oil and gas company focused on the UK Continental Shelf region of the North Sea.
Average Trading Volume: 86,006
Technical Sentiment Signal: Hold
Current Market Cap: £47.04M
For an in-depth examination of JOG stock, go to TipRanks’ Overview page.