Norwegian energy giant expanding into renewables alongside oil and gas
Oil prices have fallen more than 6% after the United States and Iran paused attacks over the weekend, easing immediate shipping risk through the Strait of Hormuz and sending Brent toward $90 a barrel. Traders remain cautious: Houthi strikes in the Red Sea and depleted emergency stockpiles are keeping upside risks to prices in place.
Adura’s Jackdaw gas field is undergoing a final public consultation after a court overturned ministerial consent. The 159‑page Environmental Impact Assessment says the project would contribute less than 0.02% of global greenhouse gases over its lifetime and could meet a portion of the UK’s gas needs this winter, while opponents warn it will have little impact on bills or energy security.
Growing pressure surrounds North Sea developments as Labour’s Burnham weighs policy changes. Rosebank and Jackdaw face regulatory reviews and environmental scrutiny, while the EPL windfall tax looms over investment. Officials caution against early approvals as consultations wrap up, with debates centring on energy security, jobs, and climate impacts.