LONDON: British Petroleum (BP) expects to pay $1 billion under Britain’s windfall tax on the oil and gas sector between May 2022 and April 2023, the company said on Tuesday.
BP paid a total of $650 million in tax in Britain in the first quarter of 2023, of which $300 million came under the Energy Price Levy (EPL), a company spokesperson said after BP reported a $5 billion quarterly profit.
Last year BP paid $700 million under the EPL, bringing the total to $1 billion, it said.
