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. Harbour Energy’s profits last year were $2.5 billion, pre-tax, but after taxes, the company was left with just an $8 million profit—that’s after the $1.
5 billion that needed to go towards the Energy Profits Levy. Harbour Energy has not divulged how many workers will lose their jobs. Harbour Energy said it has cut back on investments, too, with Harbour choosing…Windfall Tax Leads To Job Losses At UK’s Largest Oil & Gas Producer
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