UK risks being 'uninvestable' if new oil and gas fields not approved, warns Equinor
Norwegian oil giant Equinor has warned that the UK risks becoming uninvestable if it rejects new oil and gas drilling at the Rosebank and Jackdaw fields. The company's CEO stated that a decision against approval would force Equinor to take a hard view on future investments in the region. The UK government is currently weighing final approval for these projects despite previous political commitments to ban new fossil fuel extraction.
- ▪Equinor CEO Anders Opedal warned that the UK could become uninvestable if new drilling at Rosebank and Jackdaw is rejected.
- ▪Rosebank is the UK's largest undeveloped oil and gas field, holding up to 500 million barrels, while Jackdaw is 99% complete and could supply gas this winter.
- ▪Both projects were initially approved by the previous Conservative government but were delayed by a Scottish court ruling regarding climate impact assessments.
- ▪Environmental group Uplift argues that new drilling will not reduce energy bills and will primarily benefit foreign owners like Equinor and the Norwegian government.
- ▪The final decision on the projects rests with Energy Secretary Miatta Fahnbulleh, who must consider environmental evidence and public representations.
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| Original publisher | BBC News — Business |
| Canonical URL | https://www.bbc.co.uk/news/articles/c6zxjrekg29zo?at_medium=RSS&at_campaign=rss |
| Publication time | Tue, 06 Oct 2026 23:01:13 GMT |
| Retrieval time | 2026-10-06T23:22:02.485Z |
| Last seen | 2026-10-06T23:22:02.485Z |
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| Cluster | HKQTaRcOyHPC · 1 stories |
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UK risks being 'uninvestable' if new oil and gas fields not approved, warns EquinorImage caption, Anders Opedal said Equinor would have to take "a hard view" about future investments in the UK if it were to reject new drillingBySimon JackBusiness editorPublished10 minutes agoOil 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…
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