Harbour Energy goes further in its bitter reaction to the hike in the Energy Profits Levy revealed last November, revealing plans to cut costs in its head office functions.
Despite that, Harbour announced in December that it would review its capital allocation plans and shun an oil and gas licensing round in the North Sea.
The company said at that time that it would focus on growth opportunities within its existing portfolio.Oil and gas giants including Shell and BP suffered tens of billions in losses when the COVID pandemic struck as raw energy prices stood at lows not seen in modern times.
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