The US$3.8 billion oil and gas initiative takes precedence over the govt’s net-zero emissions target.
Norwegian oil and gas producer Equinor, along with Ithaca Energy, have been given development and production consent for the Rosebank field.
The North Sea Transition Authority, a UK oil and gas regulator, said in a statement that it had “granted development and production consent for the Rosebank field, north-west of Shetland” to a Norwegian-Israeli joint venture. Wednesday’s announcement comes one week after Prime Minister Rishi Sunak softened policies aimed at the UK achieving net zero carbon emissions by 2050.
Sunak also announced an easing of energy efficiency targets for rental properties and backtracked on plans to make homeowners replace gas boilers with heat pumps.
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