Accredited official statistics: Statistics of government revenues from UK oil and gas production

This publication contains statistics on government revenues from UK oil and gas production.

The headline findings in this year’s publication are:

total net tax revenues from UK oil and gas production were £4.3 billion in financial year 2025 to 2026, compared with £4.5 billion in 2024 to 2025, which is a reduction of £0.14 billion (3%)

Net Offshore Corporation Tax receipts, comprising Ring Fence Corporation Tax and Supplementary Charge, increased from £2.0 billion in 2024 to 2025 to £2.2 billion in 2025 to 2026, a rise of £0.2 billion (13%)

Net Petroleum Revenue Tax receipts were negative £0.44 billion in 2025 to 2026 compared with negative £0.35 billion in 2024 to 2025. This means that repayments increased by £0.09 billion (27%)

Energy Profits Levy receipts decreased from £2.9 billion in 2024 to 2025 to £2.6 billion in 2025 to 2026, a reduction of £0.3 billion (10%)

Chart 1: UK Government revenues from oil and gas taxes

Chart 1 shows oil and gas tax revenues over the six financial years from 2020 to 2021 to 2025 to 2026. It shows total net revenues alongside payments and repayments for the individual taxes.

Petroleum Revenue Tax receipts have been negative throughout the period. Since the Petroleum Revenue Tax rate was reduced to 0% in 2016, almost all Petroleum Revenue Tax receipts relate to repayments and are shown as negative values. Repayments were highest in 2021 to 2022 at £0.6 billion and lowest in 2022 to 2023 at £0.2 billion. They averaged £0.4 billion over the period and were £0.5 billion in 2025 to 2026

Offshore Corporation Tax payments, comprising Ring Fence Corporation Tax and Supplementary Charge, were £0.7 billion in 2020 to 2021 during the COVID-19 pandemic. They increased to £2.1 billion in 2021 to 2022 as the economy recovered. From 2022 to 2023, the chart also includes Energy Profits Levy payments