The decision follows the closure of its Grangemouth refinery, costing 430 jobs, with the firm diverting £3 billion of future investment to the United States. David Whitehouse, CEO of OEUK, said:There is no time to lose – jobs are being lost today. The offer from industry is clear – reform to this tax now to protect UK jobs, investment and the economy. Whitehouse added: “What happens to the North Sea does not stay in the North Sea. We risk an industrial contagion.”Other operators are also withdrawing, with Apache announcing a North Sea exit by 2029, and Chevron preparing to follow.