The oil-and-gas producer swung to a loss in 2024 as the energy profits levy continued to drag on results and its CEO described the U.K. as a difficult fiscal and regulatory environment in which to operate.

Harbour Energy shares slumped more than 11 per cent on Thursday as the North Sea producer swung to an annual loss and warned over the impact of the UK's windfall tax.

Harbour Energy shares slumped more than eleven per cent on Thursday after the North Sea producer swung to an annual loss.

Harbour Energy, the largest British North Sea oil and gas producer, saw its shares plunge 13% after windfall taxes wiped out profits.

Harbour Energy (OTCPK:PMOIF) plunges as much as 14% in London in Thursday's trading after reporting its FY 2024 profit was swallowed up by increases to the U.K. windfall tax on oil and gas. The U.K.-listed company said it swung to a full-year net loss of $108M from a net profit of $45M in the previous year,