Vermilion has a diverse base of international operations, including in France — where it’s the No. 1 domestic oil producer — along with Ireland, Germany and the Netherlands.Article content
Calls for a windfall tax have gathered steam in recent months as gasoline prices and energy bills have jumped for consumers, while producers around the world have reported record profits.Article content “This is a time of unprecedented profits in the oil and gas sector. Right now, that money is almost entirely being handed back to shareholders,” said Keith Stewart of Greenpeace Canada, which is calling for a windfall tax., which have grown in popularity across the sector in the past year, amounts to a different form of a windfall tax on the sector, said Ben Brunnen, founder of Verum Consulting.
“Investors have been patient with the oil and gas industry over the last decade or so, struggling to get some good returns. And when those returns finally come, they get penalized,” he said.At Vermilion, the company expects to unveil its 2023 capital budget in January that’s similar to this year’s $550-million program. Hatcher said there’s a potential for more money being allocated to increase European gas output.