Apache Corporation, a US-based oil firm, announced it will cease operations in the North Sea by the end of 2029, citing the increased windfall tax as the primary reason for the decision. The company criticized the recent Budget adjustments, which raised the Energy Profits Levy from 35% to 38%, leading to a total tax burden of 78% on oil and gas profits. Apache had previously suspended new drilling and now focuses on safely decommissioning its assets while the UK government pushes for a transition to cleaner energy sources.