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According to Sinochem New Network, the UK Treasury has stated that it is considering ending ahead of schedule the energy profit tax imposed on oil and gas producers in the North Sea, in response to the long-standing objections from the industry. This tax was originally scheduled to expire in 2030, but government officials have recently held talks with industry representatives to discuss the possibility of ending it ahead of schedule. The UK government is trying to find a balance between its ambitions to address climate change and energy security as well as job protection. The Reform Party has promised to abolish this tax if it wins the election, while the Green Party advocates making it permanent. The SNP warns that the tax could threaten tens of thousands of jobs in the North Sea. The energy profits tax was introduced by the Conservative government in 2022, following the Russia-Ukraine conflict and the subsequent surge in energy prices. Since then, this tax has been extended and increased on multiple occasions, raising the overall tax rate for the industry to 78%. Under current regulations, this tax will remain in place until March 2030, but it can be terminated early if crude oil prices remain below the threshold of $78.65 per barrel for six consecutive months. The UK Treasury stated that it is providing long-term certainty for the industry and ensuring a sustainable future for the North Sea through record-level investment in the clean energy sector.