Fair Funding for Poole

11/01/2024

It's time the government started Levelling up for Dorset !

11/01/2024

The shetland Islands have received £380 million. Dorset councils have received NOTHING ! I
t's time Dorset benefited from Dorset oli and Gas extracted from Dorset soil.

Please sign the petition;

This is not just about money, it's about fairness, ensuring that everyone in Dorset has access to the resources they need to live healthy and happy lives.

11/01/2024

Companies pay three separate profit-related taxes on oil and gas production to the gov’t:
Ring Fence Corporation Tax 30%
Supplementary Charge 10%
Petroleum Revenue Tax* 0%
* Petroleum Revenue Tax rates.
Rate period Rate for Petroleum
Revenue Tax
1 Jan 1975 to 31 Dec 1992 75%
1 Jan 1993 to 31 Dec 2015 50%
1 Jan 2016 to present date 0%

11/01/2024

11/01/2024

Diagram highlights the importance of Wytch farm to UK on shore oil field production

11/01/2024

Wytch Farm
B.P. started extracting oil at Wytch farm in 1979, the site was taken over by Perenco in 2011,
It is the largest onshore oilfield in Western Europe and in 2020 was producing more than 84% of UK onshore oil
Production peaked at 110,000 barrels per day in 1997, falling to 50,000 barrels per day by 2002.
In 2022 the daily rate had dropped to 14,100 barrels per day
In 2022 it was estimated that the field still contained reserves of;
300 million barrels of oil
3 million tonnes of natural gas liquids and
750 million cubic metres of natural gas.
Oil is also transported to Wytch Farm for processing from two smaller Dorset oilfields;
Wareham (discovered in 1964) by pipeline
and Kimmeridge Oil Field (discovered in 1959) by road