Equinor questions future of UK oil investment if North Sea drilling not approved

WorldBusiness & Finance
7 Oct 2026 • 4:54 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

Equinor questions future of UK oil investment if North Sea drilling not approved

  • Equinor chief executive Anders Opedal has warned that future UK investment could be redirected to alternative markets if the government refuses to sanction new North Sea oil and gas projects.
  • The Norwegian state energy firm is awaiting key decisions on the approval of the Jackdaw gas field off Aberdeen and the Rosebank oil field near Shetland.
  • Despite Labour's manifesto promise to ban new North Sea drilling, prime minister Andy Burnham has indicated a pragmatic approach towards the pending rulings.
  • Almost 600 climate scientists, health professionals, and conservationists have urged the government to reject the licences to prevent breaching climate commitments.
  • Energy secretary Miatta Fahnbulleh is set to decide on the future of the Rosebank and Jackdaw developments in the coming months.

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