The UK government decided to stick with a windfall tax on North Sea oil and gas producers, dismissing the industry’s calls to end it next year.

State-owned Syrian Petroleum Co. plans to more than double crude production in a year and ramp up oil refining as foreign operators return, according to Chief Executive Officer Yousef Qiblawy.

The UK could raise an additional £15 billion ($20 billion) in tax revenue from oil and gas production over the next decade if Prime Minister Andy Burnham’s government brought forward its new fiscal regime to next year, according to an industry lobby group.

Turkey and Russia are discussing an extension of natural gas supply agreements beyond 2026 as current deals expire at the end of the year.

The UK could produce nearly twice as much oil and gas over the next 25 years from its aging North Sea basin compared to current projections, if fiscal and regulatory regimes change, according to an industry lobby group.

Faster reform of the UK’s North Sea windfall tax could significantly cut reliance on LNG imports, the industry lobby group said, as war in the Middle East highlights energy supply vulnerabilities.

Faster reform of the UK’s North Sea windfall tax could significantly cut reliance on LNG imports, the industry lobby group said, as war in the Middle East highlights energy supply vulnerabilities.

The UK government will stick with a controversial windfall tax for North Sea oil and gas producers until the end of the decade, dismissing complaints that the levy hurts investment and jobs.