Harbour Energy confirms cuts to North Sea spending as it bares windfall tax hit
Harbour Energy (LON: HBR) has confirmed cuts to its planned UK spend in response to Westminster’s tinkering of the tax regime.
Harbour Energy (LON: HBR) has confirmed cuts to its planned UK spend in response to Westminster’s tinkering of the tax regime.
Harbour Energy (LON: HBR) has confirmed plans for a series of job cuts at its North Sea base in Aberdeen - understood to number in the hundreds - due to the windfall tax.
North Sea operator TotalEnergies (LON: TTE) expects to shell out millions of pounds to the UK Government, as a result of the divisive windfall tax.
There are only six big-spend projects expected for the UK North Sea and West of Shetland in the coming years, meaning limited opportunity for big players to benefit from windfall tax offsets.
More than 100 bids have been lodged for the UK’s 33rd offshore oil and gas licensing round, the industry regulator has confirmed.
Indonesia has deployed a warship to its North Natuna Sea to monitor a Chinese coast guard vessel that has been active in the gas-rich maritime area, the country’s naval chief said on Saturday of an area that both countries claim as their own.
Harbour Energy plans to start more frontier oil and gas exploration drilling offshore Indonesia’s Aceh province in September of this year, according to local reports.
Rig operator Valaris has unveiled a series of new contracts and extensions in the UK North Sea.
Revisions to the windfall tax – or energy profits levy – increased the estimated bill of Harbour Energy (LON:HBR) by over $2bn, according to analysis.
The Indonesian government has approved a plan of development for Harbour Energy’s (LON:HBR) Tuna oil and gas project that includes $3.315 billion worth of cost recovery. Significantly, Indonesia sees the development as a way to assert its sovereign rights in a maritime area also claimed by China.
The value of several North Sea operators could soar this year, according to ambitious predictions made by US investment bank Jefferies.
Transocean (NYSE: RIG) has unveiled a pair of UK North Sea contract wins as part of a clutch of global awards worth $488m.
As illustrated in French economist Frederic Bastiat’s 'parable of the broken window', it is often 'that which is not seen' that can be of greatest importance.
The head of the BRINDEX trade group has hit out at the "manifestly unfair" levy, which he said will hurt the supply chain in the UK.
Harbour Energy (LON: HBR), the largest producer in the North Sea, will shun the ongoing licensing round in the UK due to the windfall tax.
UK-based Harbour Energy (LON:HBR) and UAE-based Mubadala Energy are both planning separate exciting deepwater drilling campaigns in frontier waters offshore Indonesia’s Aceh province next year.
Repsol’s (BME:REP) much-anticipated Rencong-1X wildcat exploration well in the frontier deep-waters of Indonesia’s North Sumatra basin has failed to find commercial oil and gas reserves.
Chancellor Jeremy Hunt is due to hold a meeting on Friday on the windfall tax, Energy Voice understands, with oil and gas executives seeking a price floor to the levy.
BP (LON: BP), Ithaca Energy (LON: ITH) and Equinor (OSLO: EQNR) are teaming up to slash emissions at huge oilfields in the West of Shetland through electrification.
Russia’s Zarubezhneft is interested to bid for the giant East Natuna gas Block offshore Indonesia, according to upstream regulator SKK Migas, when the area is auctioned next year.
Westminster’s hopes of spurring North Sea spend in the coming years could be derailed by one fundamental issue: a lack of available projects.
The head of TotalEnergies’ North Sea business says the supermajor will slash investment by a quarter next year in light of the UK Government’s windfall tax, and expressed concern over the lack of a price floor built into the policy.
Harbour Energy (LON: HBR), the top producer in the North Sea, has been knocked out of the club of leading publicly-quoted UK companies.
A host of North Sea environmental statements (ES), lodged between April and August, are still to be rubber stamped, with some expected to receive sign off before the year is out.
Harbour Energy (LON: HBR), the North Sea’s largest producer, looks set to be relegated from the list of leading publicly-quoted UK companies after a windfall tax body blow.