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Whjtegate in Co Cork is Ireland's only refinery

Whitegate oil refinery operator's profits hit by tax

Soaring profits at the firm behind Ireland's only oil refinery at Whitegate in County Cork were last year hit by the new EU energy windfall tax on oil and gas producers totalling $67.07m (€61.43m).

Business • 30 Nov 23

The UK's windfall tax on oil and gas companies is set to stay in place until 2028

UK sets out changes to oil and gas windfall tax

Britain said today a windfall tax on oil and gas companies would stay in place until 2028 but the 75% level would reduce to 40% if prices consistently return to normal levels for a sustained period.

Business • 09 Jun 23

Leo Varadkar said today his priority is to ensure middle income people pay less income tax

Varadkar says price caps 'not a good idea'

Taoiseach Leo Varadkar said today that some prices are coming down for consumers, but added that it was also clear that some food retail businesses are now making substantial profits.

Business • 18 May 23

Funds from the windfall tax are being used to help offset the rising cost of living

Changes to windfall tax plans after Whitegate concerns

The Government has made changes to its plans for a windfall tax on fossil fuel companies after concerns were expressed by the company that owns the Whitegate oil refinery in Co Cork.

Politics • 24 Mar 23

Austria said the new tax will apply to oil and gas firms' profits this year and next that are 20% above the average of previous years

Austria announces windfall tax on energy companies

Austria's government has today announced plans to introduce a windfall tax on energy companies that will be of up to 40% for oil and gas firms.

Business • 18 Nov 22

Electricity and gas bills, as well what we pay for fuel on the forecourts, are generally dictated by the price of fossil fuels

Is a windfall tax on energy company profits now needed?

As energy prices soar, energy majors - as well as utility providers - have been reporting substantial profits, while householders and businesses take more pain. Should energy companies be forced to pay a windfall tax on their profits to fund cost-of-living measures in the budget?

Business • 28 Aug 22

Rishi Sunak said the new tax would raise £5 billion in the next 12 months and be phased out as oil and gas prices return to normal

UK imposes 25% energy windfall tax to help with bills

Britain has today announced a 25% windfall tax on oil and gas producers' profits, alongside a £15 billion package of support for households struggling to meet soaring energy bills.

Business • 26 May 22

windfall tax