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Oil and Gas Firm Harbour Energy Plans to Cut 100 Offshore Jobs
Harbour Energy attributes job cuts to a 78% tax burden including the Energy Profits Levy and falling commodity prices, impacting hundreds of Scottish workers.
- On Monday, Harbour Energy, the UK's largest oil and gas producer, announced around 100 offshore North Sea job cuts, blaming an uncompetitive tax regime and lower commodity prices for forcing restructuring and Scottish job losses.
- Introduced in May 2022, the Energy Profits Levy was extended last year and can push combined taxes on oil and gas profits up to 78%.
- Since 2023, Harbour has already cut 600 jobs, and the latest cuts bring total losses to around 700 since the levy began, including around 250 onshore jobs lost in Scotland earlier this year.
- SNP Westminster leader Stephen Flynn blamed the cuts "on the Labour Party", while Chancellor Rachel Reeves defended the unchanged levy at the Budget last week, citing companies' `large profits` and a need for a `fair contribution`.
- Looking to the wider sector, OEUK analysis last week forecast output could fall by 40% by 2030, with around 700 jobs expected to disappear each month as oil and gas producers said last week.
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17 Articles
Evening Standard+5 Reposted by 5 other sources
Harbour Energy to axe 100 offshore jobs amid windfall tax pressure
Harbour said it has come under pressure from lower commodity prices and an ‘uncompetitive tax regime’.
·London, United Kingdom
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Coverage Details
Total News Sources17
Leaning Left5Leaning Right0Center5Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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