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Britain's main oil and gas sector said it had secured some changes to a planned windfall tax but is seeking further allowances from the new Finance Minister Nadhim Zahawi, with the bill set to go through parliament on Monday. Former finance minister Rishi Sunak, who resigned on Tuesday, announced an Energy Profits Levy (EPL) on oil and gas producers in May to raise 5 billion pounds ($6 billion) to support households struggling with the soaring cost of living.
Brazilian city, Rio de Janeiro is all set to host the Subsea UK’s conference themed 'Underwater for longer: Subsea 4.0’ from 5-7 June. Focused on subsea production systems, the conference will address new technologies and practices. The event will explore the advancement of new fields and revitalization of production systems. Subsea UK is looking forward to exporting UK’s subsea expertise to increase the sector's international capabilities and reputation.