UK Windfall Tax Blamed for Further North Sea Job Losses
Market Intelligence Analysis
AI-PoweredHarbour Energy, the UK's largest oil and gas producer, plans to cut around 100 offshore jobs due to pressure from UK windfall taxes and lower commodity prices, citing the need to remain competitive.
Market impact analysis based on bearish sentiment with 86% confidence.
Article Context
Around 100 offshore jobs are set to be cut by oil and gas firm Harbour Energy amid pressure from UK windfall taxes. The company, which is the UK’s largest oil and gas producer, has announced the proposed job losses as part of a review into its operations in this country. In a statement, managing director Scott Barr said the process is necessary to make sure its UK business “remains competitive as we continue to adapt to a challenging future”. Harbour Energy added it has come under pressure from lower commodity prices and an “uncompetitive…
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