The UK’s largest oil and gas producer, Harbour Energy, is cutting investments and jobs after the new windfall tax on the industry sapped nearly all of its 2022 profits.
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UK oil and gas group Harbour Energy says windfall tax ‘has all but wiped out’ profit\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
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Job cuts loom at Harbour Energy as windfall tax bitesHarbour Energy, the UK's largest oil and gas producer posted pre-tax profits of $2.5b for 2022. But tax - including $1.5b set aside for the Energy Profits Levy - left the company with $8m in post-tax profit. I'm sure Hunt and Sunak are delighted now:
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UK oil and gas group Harbour Energy says windfall tax ‘has all but wiped out’ profit\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
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