UK Labour’s tax pledge will test plan to cut North Sea emissions, warns Equinor boss

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Financial Times 10h ago

UK Labour’s tax pledge will test plan to cut North Sea emissions, warns Equinor boss - Financial Times

Quick Summary:

Since Russia launched its full-scale invasion of Ukraine in 2022, the Norwegian energy giant has become Europe’s biggest supplier of natural gas by volume.

Europe’s largest oil and gas supplier has said its plan to electrify extraction operations at the Rosebank oil and gasfield in the North Sea will be more “challenging” under UK Labour’s tax proposals.

The development of the Rosebank oilfield about 80 miles off the coast of Shetland is one of the biggest projects in the UK North Sea and is projected to account for about 8 per cent of UK oil production through 2030.