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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.
