France Rejects Extension of Exceptional Tax on Refineries

France Rejects Extension of Exceptional Tax on Refineries – Bloomberg

Tanker trucks travel towards the TotalEnergies SE Grandpuits oil refinery in Grandpuits-Bailly-Carrois, France, on Thursday, Dec. 1, 2022. France was among several European nations to slap windfall taxes on oil companies after Russia’s invasion of Ukraine drove up energy prices. European Union states are coalescing around a plan to cap the price of Russian crude oil at $60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter. (Benjamin Girette/Bloomberg )

William Horobin, Bloomberg News

PARIS
EnergiesNet.com 10 19 2023

The French government opted not to extend a windfall tax on the profits of oil refiners into next year, a Finance Ministry official said.

Lawmakers at the National Assembly’s finance committee had proposed amendments to the 2024 budget bill to extend levies to help fund relief measures for consumers hard hit by surging gasoline, diesel and electricity costs.

France was among several European nations to slap windfall taxes on oil companies after Russia’s invasion of Ukraine drove up energy prices.

The Finance Ministry official briefed journalists on condition of anonymity.

bloomberg.com 10 18 2023

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