Harbour Energy Cuts 100 North Sea Jobs, Blames Windfall Tax

Harbour Energy, the UKs largest oil and gas producer, plans to cut 100 North Sea jobs due to the Chancellors refusal to adjust the windfall tax. This decision follows a series of previous cuts, reducing the UK workforce by 700 since 2022. The company blames the high tax rate, now at 78%, for making deep cuts necessary. Scott Barr, managing director of Harbours UK operations, stated that the sector faces ongoing pressure from lower prices and an uncompetitive tax system. Shell also recently transferred its North Sea assets, contributing to a monthly job loss of around 1000 and rising unemployment. Harbour Energys UK operations, once accounting for 80% of its output, now make up only 33%, potentially threatening the Viking Carbon Capture and Storage project.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.