Harbour Energy sees profits ‘wiped out’ by windfall tax
Harbour said the windfall tax has “extinguished” profits – but the firm, which is cutting jobs, still announced $300m of shareholder dividends and buybacks today.
Harbour Energy
North Sea operator Ithaca Energy promoted to FTSE 250 index
Ithaca Energy (LON: ITH) is to join fellow North Sea operator Harbour Energy (LON: HBR) on the second rung of the London Stock Exchange’s index.
North Sea giant Harbour Energy forecast for £2.2bn pre-tax profits
Harbour, which is making hundreds of job cuts, is also set for a heavy windfall tax hit in its results tomorrow, analysts say.
Harbour gets verification for Viking CCS storage volumes
Harbour Energy has received independent verification that its planned Viking carbon capture and storage (CCS) scheme is capable of holding up to 300 million tonnes of CO2.
$24bn subsea spend eyed in Asia Pacific over next five years
Some $24 billion is expected to be spent on subsea and offshore pipelines in Asia Pacific over the next five years, data from energy research firm Wood Mackenzie shows.
Westwood: Harbour Energy one of just two IOCs to finish 2022 with lower share price
A new report from Westwood Global Energy Group has laid bare the impact of the UK Government's fiscal tinkering on Harbour Energy's (LON: HBR) share price in 2022.
Cnooc’s $3bn UK portfolio sale has stalled on valuation gap
Cnooc (TSX: CNU) has paused a planned sale of its UK North Sea portfolio, which could have been valued at as much as $3 billion in a deal, according to people familiar with the matter.
Missing worker: Police to board North Sea rig in Dundee
Police officers will board an oil rig in Dundee this week after a worker went missing in the North Sea.
Potentially ‘over 300’ unexplored North Sea discoveries at risk due to windfall tax uncertainty
Hundreds of North Sea oil and gas discoveries could be abandoned as companies battle with uncertain headwinds.
North Sea windfall tax raises 25% less than expected in December
The windfall tax on North Sea oil and gas producers raised nearly 25% less than expected for Treasury coffers last month.
ODE warned over fire and explosion risk at Harbour’s Tolmount platform
Tolmount duty holder ODE Asset Management has been warned by the UK’s safety regulator after it found its procedures for handling fire and explosion risks lacking.
‘Bloated’ Harbour Energy job cuts: Could other North Sea firms follow suit?
Harbour Energy (LON: HBR) is "bloated" staff-wise, say analysts, and this week the firm said it would slash jobs in Aberdeen due to the UK Government windfall tax.
‘Populism before pragmatism’: Tory front bench blamed for Harbour Energy jobs cuts
Rishi Sunak and Jeremy Hunt are being held responsible for planned job losses at the UK North Sea’s largest producer.
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 plans hundreds of Aberdeen job cuts over windfall tax
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.
French giant TotalEnergies accounting for $1bn windfall tax hit ahead of 2022 results
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.
Only six big-spend projects for UK North Sea in coming years
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.
Oil and gas companies lodge over 100 bids in North Sea licensing round
More than 100 bids have been lodged for the UK’s 33rd offshore oil and gas licensing round, the industry regulator has confirmed.
Indonesia sends navy to monitor Chinese coast guard ship near Harbour Energy gas field
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 to start drilling for more Indonesia oil and gas in September
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.
Valaris lands a series UK North Sea contracts
Rig operator Valaris has unveiled a series of new contracts and extensions in the UK North Sea.
Harbour Energy projected for $5.5bn windfall tax payments by analyst
Revisions to the windfall tax – or energy profits levy – increased the estimated bill of Harbour Energy (LON:HBR) by over $2bn, according to analysis.
Harbour Energy gets approval for $3.3bn Tuna oil and gas project in Indonesia
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.
Jefferies: High oil price could double value of Harbour, Ithaca and EnQuest
The value of several North Sea operators could soar this year, according to ambitious predictions made by US investment bank Jefferies.
Transocean unveils UK deals as part of $488m awards
Transocean (NYSE: RIG) has unveiled a pair of UK North Sea contract wins as part of a clutch of global awards worth $488m.