Enquest slumps into the red as windfall tax continues to hammer North Sea firms
Enquest slumped into the red as the windfall tax continues to hammer North Sea operators.
The energy group posted losses of 16.8million for the six months to June having made a profit of 162.1million over the same period last year.
Like many of its rivals, the oil and gas producer has been battered by the windfall tax, which was introduced last year by Rishi Sunak when he was Chancellor after global energy prices spiked.
The Energy Profits Levy imposed a 25 per cent tax surcharge on profits, and was raised to 35 per cent by Jeremy Hunt after he took over at the Treasury.