UK's Harbour Energy To Slash 250 Jobs

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 carbon capture projects in the UK.The Energy Profits Levy, also known as the windfall tax, was first introduced in 2022 under Boris Johnson’s government and imposed a 75 per cent tax on oil and gas producers.The tax was hiked to 78 per cent by Chancellor Rachel Reeves as part of the Autumn Budget last October.Scott Barr, Harbour’s UK managing director, said: “Harbour is launching a review of its UK operations, which we expect to result in a reduction of around 250 onshore roles in our Aberdeen-based business unit.“The review is unfortunately necessary to align staffing levels with lower levels of investment, due mainly to the government’s ongoing punitive fiscal position and a challenging regulatory environment.He added: “We are also reviewing the resourcing required to support our Viking carbon capture and storage project, where progress beyond front-end engineering design and the recent securing of a Development Consent Order has been hindered by repeated delays to the Government’s Track 2 process.”Habour’s decision was described as a “devastating blow” by the Aberdeen and Grampian Chamber of Commerce (AGCC).It follows the slashing of some 350 of its UK onshore jobs in 2023.By Guy Taylor via CityAM