The North Sea, the windfall tax, and the parable of the broken window
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.
Harbour Energy
‘Many’ North Sea operators reconsidering 2023 investment due to windfall tax
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.
Windfall tax: Top producer Harbour Energy to shun North Sea licensing round
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.
Harbour Energy and Mubadala plan more exciting deepwater exploration in Indonesia
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 and Petronas’ Andaman deepwater probe disappoints in Indonesia
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.
Oil firms seek windfall tax price floor in meeting with Jeremy Hunt
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, Equinor and Ithaca Energy team up on West of Shetland electrification
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.
Zarubezhneft eyes giant East Natuna gas block in Indonesia
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.
‘Diminishing hopper’ of big North Sea projects a leash on firms’ ability to offset tax hike
Westminster’s hopes of spurring North Sea spend in the coming years could be derailed by one fundamental issue: a lack of available projects.
Windfall Tax: TotalEnergies to slash £100m of North Sea investment in 2023
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.
North Sea top producer Harbour Energy knocked out of FTSE 100, Petrofac relegated from 250
Harbour Energy (LON: HBR), the top producer in the North Sea, has been knocked out of the club of leading publicly-quoted UK companies.
The Magnificent Seven: North Sea project paperwork still awaiting govt sign off
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.
North Sea top dog Harbour Energy ‘likely’ to be relegated from FTSE 100
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.
Windfall tax risks ‘destroying’ North Sea production, Tory MPs warn Chancellor
Tory MPs have told Chancellor Jeremy Hunt that the windfall tax on oil and gas companies needs to be watered down to avoid an “existential threat” to the North Sea.
Harbour Energy opens FEED and FPSO tender for Tuna in Indonesia
Harbour Energy (LON:HBR) is seeking a floating production storage and offloading (FPSO) unit for its Tuna oil and gas development offshore Indonesia in the Natuna Sea.
CNOOC seeks $2bn sale of US assets – report
China’s CNOOC is reportedly seeking a $2 billion sale of its assets in the US as sanction concerns ramp up.
Surge in energy stock helps push FTSE 100 to two-month high
The FTSE 100 has jumped to a more than two-month high despite a new Organisation for Economic Co-operation and Development (OECD) report casting an unmissable shadow over the UK's economic prosperity.
Windfall Tax: £200bn of investment ‘at risk’ says North Sea trade body
More than £200 billion of UK energy investments, including low carbon solutions, are “at risk” due to the windfall tax, the North Sea trade body has warned.
31% chance of success for Finder Energy at 67m barrel North Sea prospect
Australian firm Finder Energy (ASX: FDR) has shared details of its chances of success (COS) on its P2524 licence in the UK North Sea.
North Sea independents see shares drop on windfall tax announcement
Several independent North Sea producers saw their share prices drop after the chancellor’s windfall tax announcement - lending credence to claims they are harder hit than oil majors by the policy.
Harbour Energy ‘deeply disapointed’ revised windfall tax will stay if oil prices fall
Harbour Energy (LON: HBR) has struck out at Jeremy Hunt's new Budget, saying that the decision to keep windfall tax if commodity rates return to normal levels is "deeply disappointing".
Failure on D&I could cut oil firms’ funding, warns North Sea’s top producer
Failing to meet diversity and inclusion (D&I) targets could see oil firms’ access to funding being cut, the North Sea’s largest producer has warned.
Ithaca going public: Who else in the North Sea has launched stocks?
As Ithaca Energy looks to make an Initial Public Offering (IPO) in London, we take a look at some of the other North Sea operators that have launched stocks recently.
North Sea firms warn chancellor over ‘disastrous’ windfall tax threat
North Sea oil firms have sent a letter to chancellor Jeremy Hunt, calling the UK one of the most “fiscally unstable” places to do business in the world as another windfall tax threat looms.
Harbour targets FIDs on Acorn, Viking CCS in 2024
Harbour Energy (LON:HBR) reported strong nine-month performance in 2022 as production rose by more than a quarter, but again took aim at the impact of the UK’s windfall tax measures.