The Great Energy Transition is under way, and may come to define this era, but it's not going smoothly.

For the oil and gas sector, a further sign of its decline – both long-term and cyclical – is in 250 onshore Aberdeen jobs being axed by Harbour Energy, now one of the biggest operators.

With a global portfolio of producing fields, it has other places to put its capital, from Egypt to Argentina, where profits are not taxed at 78%, and where the government is not refusing to grant new drilling licences.

It is also reviewing its commitment to the Viking carbon capture and storage scheme being planned for Humberside, blaming "repeated delays" by the UK government.