Bloomberg Neptune Energy Group Ltd.’s chief warned that the UK’s windfall tax on oil and gas profits will threaten long-term investment in the sector, but have limited impact on the firm itself. The government in May slapped a 25% windfall tax on producers’ profits to fund aid to the poorest households amid a cost-of-living crisis. The levy — which will ...

  Bloomberg A closure of the Rhine River could disrupt the daily trade of hundreds of thousands of barrels of oil products, piling yet more pressure on Europe’s energy-supply chain. The water level at Kaub, west of Frankfurt, is forecast to drop below a critical 40-centimeter mark (under 16 inches), and to 33 centimeters. At that point, it becomes uneconomical ...

  Bloomberg Thyssenkrupp AG lowered its full-year profit forecast after rising interest rates triggered a writedown at the German company’s steel division. The engineering giant said it now sees net income in the high triple-digit million-euro range for 2022, below its previous projection of at least 1 billion euros ($1.03 billion). Thyssenkrupp made some progress improving operating profitability. Adjusted earnings ...