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Harbour Energy Passes On Licensing Bid Amid Windfall Tax

OIL

The UK’s recent increase in a windfall tax on the oil and gas sector has pushed Harbour to review its capital allocation plans, the company told Reuters.

  • "We have decided not to submit bids as part of this licensing process," Harbour said.
  • Last week the British government rejected demands from the oil and gas industry to adjust the revised windfall tax on the sector.
  • Harbour Energy joined several other oil and gas majors such as TotalEnergies, Shell and Equinor that have announced to rethink on their energy investments given the UK’s high in windfall taxes.

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