Harbour Energy Joins North Sea Oil Exodus Ahead Of Tax Hikes

Top British North Sea producer Harbour Energy (OTCPK:PMOIF) has revealed plans to sell stakes in North Sea oilfields and has revived plans for a U.S. listing, joining a growing list of oil and gas companies scaling back investments ahead of new tax increases on the sector. Elected in July, the Labour government wants to use the revenue from oil and gas to raise funds for renewable energy projects. UK Finance Minister Rachel Reeves is set to announce the tax increases in her budget on Oct. 30. Harbour is also moving ahead with sale of stakes...