WebMar 9, 2024 · Harbour Energy posted pre-tax profits of $2.5bn (£2.1bn) for 2024. But tax - including $1.5bn set aside for the Energy Profits Levy - contributed to the company posting just $8m in post-tax profit. WebMar 10, 2024 · The company, which saw a pre-tax profit surge of almost 700%, reaching $2.5 billion (£2.1bn), was hit hard by the new UK windfall tax that was implemented in May 2024. Harbour Energy revealed ...
Harbour Energy set to save $40 million a year but job losses …
Web17 hours ago · Jillian Ambrose Energy correspondent. ExxonMobil handed its chief executive a 52% pay increase to $35.9m (£28.7m) for 2024 after the oil company reported its highest ever profits amid Russia’s ... The levy’s investment incentive mechanism – repaying 91p for every £1 spent – means companies spending on new projects will see relief. “Although Harbour have, according to us, over $1.5bn of capex, coming up over the next three years or so, it really hurts,” Mr Corr said. “That’s a function of portfolio maturity, … See more There are only six projects in the UK sector coming up with capital expenditure of more than $500m, Mr Corr told the Scottish Energy Forum in November. Those are: Clair and … See more Mr Corr said the windfall tax is designed to incentivise spending, but warned it could have the opposite effect. Deirdre Michie, the former CEO of trade body OEUK warned the chancellor that increasing the levy, as he did at the … See more Looking ahead, Mr Corr recounted pledges from the Conservative government that the tax won’t now change until March 2028. That might be true – but not if Labour, who … See more Under the old windfall tax, when the rate was set at 25%, Equinor faced a bill of just $130m, according to Welligence, for 2024-2025, due to Rosebank investment. The increased levy “didn’t … See more esv olympia köln
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WebMar 9, 2024 · The UK's largest oil and gas producer has confirmed it is pressing ahead with plans to cut jobs and investment after reporting profits last year were "all but wiped out" by the windfall tax.... WebMar 9, 2024 · By Julianne Geiger - Mar 09, 2024, 1:30 PM CST. The UK’s largest oil and gas producer, Harbour Energy, is cutting investments and jobs after the new windfall tax on the industry sapped nearly ... WebJan 18, 2024 · Harbour Energy made a pre-tax profit of $1.5bn (£1.3bn) in the first half last year, up from $120m (£972m) over the same period of 2024. 'Riskier place to invest' Offshore Energies UK, which... esv olympia köln judo