- Free cash flow triples to $2.1bn
- Management knocks down debt alongside $400mn buyback scheme
Harbour Energy (HBR) has revealed a $2.45bn (£2.1bn) tax bill for 2022, taking its post-tax profit to $8mn on sales of $5.4bn for the year. The company has lobbied heavily for changes to the government’s energy profits levy, which was increased to 75 per cent on profits in November. Harbour boss Linda Cook said the levy was having a significant impact on the business. “For Harbour, the UK's largest oil and gas producer, it has all but wiped out our profit for the year,” she said. “This has driven us to reduce our UK investment and staffing levels.”