Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an estimate of the number of jobs that will be lost from the North Sea oil and gas sector, from both operator and supply chain companies, in (a) 2026, (b) 2027, (c) 2028, (d) 2029 and (e) 2030 due to the Energy Profits Levy remaining in place until 2030.

The Energy Profits Levy (EPL) was introduced in 2022 by the previous government. The government considered the impact of the extension to the EPL until 31 March 2030, announced at Autumn Budget 2024, on the economy, including investment. The summary of impacts for the extension and other EPL reforms announced at Autumn Budget 2024 can be found here: https://www.gov.uk/government/publications/energy-profits-levy-reforms-2024.

Employment levels in the oil and gas sector depend on a wide range of factors including global commodity prices, aggregate investment levels and exploration and development activity.

The government is committed to supporting North Sea workers and communities to transition and take advantage of the growth opportunities in clean energy. That is why the North Sea Future Plan, published at Autumn Budget 2025, announced a new Jobs Brokerage Service offering end-to-end career transition support for oil and gas workers. Earlier in October the government also published the Clean Energy Jobs Plan which sets out cross-cutting actions to deliver the skilled workforce needed to make Britain a clean energy superpower, including delivering Clean Power 2030. As part of the Plan, £20 million of funding was announced for the Oil and Gas Transition Training Fund to support workers to retrain and access clean energy roles.