The British energy company Kistos refuses new investments in the UK in favor of the Middle East due to London's unstable tax policy, the Telegraph writes. The company has already invested 148 million dollars in Oman's oil fields. According to Peter Mann, head of Kistos, a lack of predictable tax conditions makes investing in the UK oil and gas industry unguarded. At the same time, production in the North Sea is decreasing, and the country's dependence on energy imports is increasing. The situation worsens due to the lack of gas storage facilities. Britain's gas reserves will only last six to seven days, Mann warns. The largest facility of storage space is also at risk of closure in April if the government does not provide support.

The British energy company Kistos refuses new investments in the UK in favor of the Middle East due to London's unstable tax policy, the Telegraph writes. The company has already invested 148 million dollars in Oman's oil fields. According to Peter Mann, head of Kistos, a lack of predictable tax conditions makes investing in the UK oil and gas industry unguarded. At the same time, production in the North Sea is decreasing, and the country's dependence on energy imports is increasing. The situation worsens due to the lack of gas storage facilities. Britain's gas reserves will only last six to seven days, Mann warns. The largest facility of storage space is also at risk of closure in April if the government does not provide support.