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North Sea: UK government revenue 2008-2020

Published by D. Clark, Mar 10, 2021
Data on the United Kingdom's North Sea revenue from 2008/09 to 2019/20 shows that in 2019/20, North Sea revenue reached 650 million British pounds. North Sea revenue refers to revenues from petroleum revenue tax, corporation tax and license fees from all offshore oil and gas activity on the North Sea.

Annual government revenues from offshore oil and gas activity on the North Sea in the United Kingdom (UK) from 2008/09 to 2019/20* (in million GBP)

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Source

Release date

August 2020

Region

United Kingdom

Survey time period

August 26, 2020

Supplementary notes

* North Sea revenue includes revenue derived from petroleum revenue tax, corporation tax and licence fees. The source adds the following information: "North Sea revenue is subject to annual fluctuations and is driven by a number of factors, including the oil price, the sterling dollar exchange rate, production, operating expenditure, capital investment, and the prevailing fiscal regime.

Figures for the years 2010/11 and before were taken from earlier publications.

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