UK risks being 'uninvestable' if new oil and gas fields not approved, warns Equinor
Equinor has warned the UK government that it may halt future investments if new oil and gas drilling projects at Rosebank and Jackdaw are rejected. The company emphasizes that the UK's energy security and investability depend on these approvals despite political opposition.
Why it matters
This highlights the tension between the UK's climate commitments and the practical need for energy security and foreign investment in the North Sea.
Image caption, Anders Opedal said Equinor would have to take "a hard view" about future investments in the UK if it were to reject new drilling
Oil giant Equinor has warned it may shun further investments in the UK if new oil and gas fields at Rosebank and Jackdaw are not approved.
"The question will be: is the UK investable in the future? I hope it will not come to that," said Anders Opedal, boss of the Norwegian state oil company which is part owner of the sites.
He told the BBC the company would "have to take a hard view about it" if a decision was made to reject new drilling.
The warning comes as the UK government is set to decide whether or not to grant final approval to extract oil and gas at Rosebank and Jackdaw, despite a ban pledged in Labour's election manifesto.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in