North Sea oil and gas producer Harbour Energy has very slightly increased their production forecast by 1% at midpoint.

This marginal adjustment is down to the company purchasing assets from oil/gas firm Wintershall Dea.

The transfer of these assets took place back in September. Harbour acquired the non-Russian oil and gas assets as part of a deal in December 2023.

The sector has been taking or proposing steps to lower its carbon footprint such as some energy companies proposing carbon capture and storage.

That said, the sector has seen a significant decline over the past decade and a half. According to Reuters, a forecast from the North Sea Transition Authority or NSTA regulator shows that the barrels of oil equivalent per day of the North Sea basin is likely to decline additionally by more than 80% come mid-Century.