US EditionHarbour Energy to cut its UK workforce by a quarter, company says
- Harbour Energy announced plans to cut around 250 onshore jobs at its Aberdeen headquarters in 2025, affecting about a quarter of its local workforce.
- The company cited the UK Government’s increased windfall tax, raised from 35% to 38% and extended to 2030, along with a difficult regulatory environment as reasons for the cuts.
- Harbour reported a £69.7 million loss after tax in 2024 due to a "108% effective tax rate" and noted delays in carbon capture projects, including the Viking development, hindered its progress.
- Managing director Scott Barr said the staffing review is "unfortunately necessary" to align headcount with lower investment levels caused mainly by the government’s fiscal stance and regulatory delays.
- The reductions represent a significant blow to northeast Scotland's oil sector and add to thousands of recent job losses, with concerns raised that worsening conditions could cause further cuts unless government policies shift.
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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 introduce…
·London, United Kingdom
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Evening Standard+3 Reposted by 3 other sources
Harbour Energy axing 250 jobs in Aberdeen
The job losses come on top of 350 roles that were cut by the oil and gas firm in 2023.
·London, United Kingdom
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