After the UK, Spain is Taxing Companies Making Extraordinary Profits. Who's Next?
This tax, commonly known as “windfall tax” or “excess profits tax” tends to be temporary but can also become permanent, depending on the government’s specific policies.
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In January 2025, 77 oil and gas exploration licences were awarded in seven different countries, with Norway leading in terms of embodied emissions.
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In November 2024, 23 oil and gas exploration licences were awarded across five countries, with Russia granting the licences that account for the largest portion of embodied emissions.
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In October 2024, 20 oil and gas exploration licences were awarded across three countries, with a significant portion granted by Brazil.