British equities moved slightly lower on Wednesday, while the pound traded flat against the U.S. dollar, hovering below the $1.35 level. Markets were quieter as London prepared for an early close on New Year’s Eve, with broader European trading showing mixed performance.
The FTSE 100 slipped 0.1%, while sterling was last seen at 1.3471 against the dollar. Trading volumes remained light amid shortened holiday sessions.
Elsewhere in Europe, the DAX was closed for the New Year’s Eve holiday, while France’s CAC 40 declined by 0.2%.
Many global markets were operating on reduced hours for the final trading day of 2025. UK markets were open for a half-day on Wednesday, will remain closed on Thursday for New Year’s Day, and are scheduled to reopen on Friday.
Harbour Energy takes over Mexico’s Zama oil project
Harbour Energy announced on Wednesday that it has been appointed operator of the Zama oil field, located offshore Mexico.
The appointment follows agreements with project partners Pemex, Grupo Carso, and Talos Energy, along with approval from SENER, Mexico’s Ministry of Energy. Under the agreement, partners will retain the option to nominate key members of Harbour’s project team.
The Zama oil field was discovered in 2017 and underwent further appraisal during 2018 and 2019. It is estimated to hold around 750 million barrels of oil equivalent in gross recoverable resources.
Engineering and design work for the project is expected to be completed in 2026. A final investment decision will be made once that phase concludes.
