Invest in gas and wind or face more taxes, BP and Shell told | News

Boris Johnson will attempt to head off political outrage over soaring profits at energy giants next week by demanding that they pour billions of pounds more into British gas and renewable projects.

Shell and BP are preparing to announce their highest profits for a decade and will today be told to invest more in the North Sea and offshore wind projects if they want to escape a windfall tax.

Kwasi Kwarteng, the business secretary, will tell the two companies today that he expects more commitments to invest in Britain as the “quid pro quo” for government support for renewable energy and North Sea drilling.

Johnson is due to meet energy companies next week in the hope of confirming further commitments on UK energy after Shell

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