Skip to content
Subscriber Only

Big Oil Finds Hurdles Buried in Trump’s ‘America-First’ Tax Plan

  • Limits on tax assets, exploration expenses will cost drillers
  • Parts of overhaul may favor shale over multinational players
Bloomberg business news

The Winners and Losers in the Tax Overhaul Bill

Updated on

For Big Oil, the U.S. tax overhaul is turning out to be a mixed bag, especially for companies that drill overseas.

Two weeks after President Donald Trump and congressional Republicans passed a sweeping rewrite of the tax code that cuts corporate rates, drillers are finding other changes that are less of a boon. BP Plc and Royal Dutch Shell Plc offered a preview recently, saying they may write off as much as $4 billion in tax assets as a result.