The UK Energy Profits Levy (EPL) has dominated the annual results of the country’s largest oil and gas producer, Harbour Energy, which has lashed out at the impacts of the windfall tax “all but wiping out our profit for the year”.
Harbour has recognised a $1.5 billion one-off, non-cash deferred tax charge for 2022 which consigned Harbour to an annual profit after tax of just $8 million compared with $101 million in 2021.
Linda Cook, Harbour’s chief executive, cited a range of positives during 2022, but was scathing of the UK tax.
