Business · 2 hours ago
North Sea drilling: £35bn at stake as approvals face 'red tape' delays
Photo by Jan-Rune Smenes Reite on Pexels
A decision on the two North Sea sites is expected within weeks, and Shell and Equinor say more delay puts investment at risk. Energy secretary Miatta Fahnbulleh must weigh growth against environmental promises, after Scottish courts blocked both projects in 2024. An industry-commissioned report says they could add £35bn to the economy and £12.1bn in tax revenue by 2035.
Reported by Crude Oil Prices Today | OilPrice.com · How we write briefs