Healey’s Budget prices in wave of fresh North Sea drilling Exclusive John Healey’s Budget has assumed the government will approve drilling projects that produce more than a billion barrels of oil and gas, meaning ministers will face a hole in the public finances if they fail to green-light new North Sea extraction. In its scorecard for the Chancellor’s maiden fiscal event, the Office for Budget Responsibility [...]
With Jackdaw approved, what’s next for the North Sea? Analysis A lot has happened since 1 June 2022, the date when ministers first granted permission to tap the Jackdaw gas field. The Conservatives were halfway through their ill-fated final term of three. Kwasi Kwarteng was the business secretary, with equally ill-fated aspirations for higher office. And the Department for Energy Security and Net Zero – [...]
UK ‘uninvestable’ if North Sea projects are blocked Energy The UK will be uninvestable in the eyes of most energy companies if the government blocks the Jackdaw and Rosebank oilfields in the North Sea, the boss of Norway’s state-run oil and gas firm has warned. Equinor chief Anders Opedal said his firm could pull out of future projects in the UK if the two [...]