S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%
A daily business newspaper · Founded in 2026

Money Talk

Finance and markets: business, quotes, gold, energy and releases.

Andy Burnham Poised to Break North Sea Drilling Standoff

Incoming Prime Minister Andy Burnham is preparing a policy pivot that could greenlight controversial oil and gas drilling in the North Sea. By fast-tracking plans for the Rosebank and Jackdaw fields, his administration aims to prioritize domestic energy security despite intense opposition from environmental groups and the party's own climate advocates.

Andy Burnham Poised to Break North Sea Drilling Standoff

Burnham’s team has instructed the civil service to finalize approval frameworks for the sites, which are currently operated by Adura, a joint venture between Shell and Equinor. While previous court rulings overturned earlier consents, the launch of new public consultations on Thursday suggests the projects are back on the fast track. Adura chief executive Neil McCulloch maintains that the fields are critical for winter energy stability, claiming they could provide roughly 10 percent of the UK’s domestic gas production and sustain thousands of industrial jobs.

This move signals a sharp departure from the stance held by current energy secretary Ed Miliband, who previously blocked such projects to protect net-zero commitments. Proponents, including Unite the Union general secretary Sharon Graham and Chancellor Rachel Reeves, have long argued that stalling these developments constitutes economic self-harm. Government insiders suggest that approving these specific fields would bypass Labour’s pledge to ban fresh exploration licenses, as the projects were originally granted under the previous Conservative administration. The final decision awaits the appointment of a new energy secretary, a move Burnham is expected to make shortly after taking office next Monday.

Share article
TelegramXFacebook

When reusing this material a link to Money Talk is required.

Comments (0)

Leave a comment

No comments yet. Be the first!