Energy secretary leaning towards rejecting Rosebank oilfield
Summary
Energy Secretary Miatta Fahnbulleh is likely to reject approval for the large Rosebank oilfield in the North Sea because it would produce much more carbon dioxide and mostly export oil. She approved the smaller Jackdaw gasfield as it serves the UK domestic market and supports energy security during the transition to cleaner energy.Key Facts
- The Rosebank oilfield would emit about seven times more carbon than the Jackdaw gasfield.
- Rosebank is mainly for exporting oil, while Jackdaw supplies gas to the UK market.
- Fahnbulleh is expected to make a final decision on Rosebank later in 2024.
- Jackdaw gasfield will start producing gas within weeks and add about 36 million tonnes of carbon emissions.
- The UK government is balancing energy security with climate goals as it moves toward net zero emissions.
- Future tax revenues from North Sea oil and gas will fund renewable energy projects through a new £2 billion energy wealth fund.
- The UK aims to reduce carbon emissions sharply in the coming years to meet climate targets.
- Opposition parties plan to ban new oil and gas drilling licenses, but current projects like Rosebank are still under review.
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