OPINION: Are windfall taxes a fair way of redistributing wealth in times of price volatility, or just a foolhardy move that unfairly penalises risk-taking and chases away investments?

That argument is raging after European Union countries and the UK imposed substantial fiscal penalties on oil and gas companies last year.

The cash grab comes after a period of record profits, due mainly to the rise in commodity prices that came with the Russian invasion of Ukraine.

Not all oil companies are taking this lying down.