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A tax levied by governments against certain industries when economic conditions allow those industries to experience above-average profits. Windfall taxes are primarily levied on the companies in the targeted industry that have benefited the most from the economic windfall, most often commodity-based businesses. During periods of higher oil and gas prices, the producing companies make huge profits since often the cost …

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A one off tax imposed by the UK government in 1997 on the profits of privatized utilities companies. It was applied to fund the government’s Welfare to Work program. The profits were assessed as the difference between a company’s privatized sale price and its average value over the subsequent four years. The tax was levied …

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When a company expands its business across a whole chain within the same industry and controls both the upstream supplies and downstream buyers, which happens a lot in the oil industry. In the oil and gas industry this would imply being active all the way along the supply chain from locating crude oil or gas …

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