Shell and BP plummet after Trump declares ceasefire with Iran Energy FTSE 100 oil stocks plunged in early morning trading as Brent prices fell after US President Donald Trump declared a two week ceasefire with Iran. Oil giant Shell suffered a 7.1 per cent slump, trading at 3,311.4 pence, bringing its rally over the course of the Iran war to a screeching halt. Rival BP recorded [...]
Windfall taxes: Major North Sea jobs cuts revealed by oil and gas giant Energy 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 [...]
Harbour Energy forecasts higher oil and gas production Energy Oil and gas firm Harbour Energy has edged up its full-year production guidance despite recent market volatility. Annual production is expected to come in at between 455 to 475 kboepd, up from a previously guided range of 450 to 475. The London-listed group on Thursday also reaffirmed guidance for a full-year operating costs of $14/boe, [...]
Harbour Energy to axe 250 jobs as it slams Rachel Reeves May 7, 2025 Harbour Energy has slammed the government’s “punitive fiscal position” as it announced plans to cut 250 jobs in Aberdeen. The London-listed company, which is the largest oil and gas producer in the North Sea, blamed the Energy Profits Levy and a challenging regulatory environment for the decision. It also noted delays in the ramp-up of [...]
Harbour Energy shares tumble as profit wiped out by windfall tax March 6, 2025 Harbour Energy shares slumped on Thursday after the North Sea producer swung to an annual loss. The stock tumbled more than eleven per cent in early deals as the London-listed company reported losses of $93m (£72.1m), down from a prior year profit of $45m. North Sea producers have hit out at the UK’s windfall tax, [...]
Mark Kleinman: Hold the Telegraph front page – then hold it some more December 27, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly Morning Wire column. This week he tackles the Telegraph bid, Mike Ashley’s failed Boohoo approach and an oil deal in the North Sea I suspect you’d have got long odds on January 1 on the auction of The Daily [...]
Harbour Energy returns to profit despite falling revenue and cash flow August 8, 2024 Harbour Energy has returned to the black on Thursday despite the largest UK-based North Sea oil and gas firm suffering a dip in revenue and cratered free cash flow. The producer had been a victim of the energy profit levy imposed off the back of energy price spikes in 2022, with the 75 per cent [...]
Harbour Energy ups dividend despite £1bn tax hit May 9, 2024 Harbour Energy has hiked its dividend by nine per cent for the year off the back of better cash flows.
Harbour Energy records drop in revenue and production as windfall tax weighs March 7, 2024 Harbour's chief executive said the tax all but "wiped out" the firm's profits in 2022
UK gas glut slashes one quarter off Harbour Energy’s returns sheet January 18, 2024 The FTSE250 company, Harbour Energy, which is now the largest independent oil producer in the North Sea, has projected 2023 revenues to come in at $3.9bn, down 27 per cent from $5.4bn in 2022.