The UK has granted approval for oil and gas production in the Rosebank field, its largest undeveloped area in the North Sea, as part of efforts to enhance energy security. Equinor and Ithaca Energy will invest $3.8 billion in the project. This decision follows the UK’s recent dilution of net-zero targets, prompting criticism from environmentalists. Despite emphasizing support for renewable energy, the UK government argues that oil and gas are necessary for a transitional energy mix. Critics condemn the move, asserting it contradicts climate commitments. Production in the Rosebank field, expected to start in 2026-27, is set to yield 300 million barrels of oil.
UK Approves Oil and Gas Output in North Sea, Drawing Criticism
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