Finance

Hedging profiles trim North Sea producers' profits despite soaring gas prices

Forward selling of production means operators are recording accounting losses as commodity prices hit record highs and government mulls windfall tax

Much to ponder: UK Business & Energy Secretary Kwasi Kwarteng has not ruled out taxing those who profit from the gas crisis
Much to ponder: UK Business & Energy Secretary Kwasi Kwarteng has not ruled out taxing those who profit from the gas crisisPhoto: REUTERS/SCANPIX
  • Rob Watts
London
EuropeWestern Europe
Published 29 September 2021, 12:05Updated 29 September 2021, 15:04