
The battle over the future of Britain’s North Sea oil and gas industry has reignited as Equinor renews its push to develop the massive Rosebank oil field north-west of the Shetland Islands. The state-owned Norwegian energy giant has resubmitted its application to begin production on what is regarded as the UK’s largest untapped oil resource, challenging Labour’s recently reaffirmed ban on new North Sea drilling projects.
The previous Conservative government had granted Equinor clearance to advance Rosebank, but this was overturned by the High Court earlier in the year. The court also blocked the development of the Jackdaw gas field, citing a failure to appropriately consider the carbon emissions impact of both schemes. The outcome has left the final decision on Rosebank with Energy Secretary Ed Miliband, a vocal critic of new North Sea exploration, who previously described the project as “climate vandalism” and pledged to halt all new drilling in the basin.
Labour has attempted to clarify that its moratorium applies only to entirely new developments. Party leader Sir Keir Starmer previously reassured Equinor that previously approved fields, including Rosebank, could still proceed. This position is perceived as an attempt to avoid undermining investor confidence at a time when critics warn of a developer exodus from UK waters. Peak production from Rosebank, when realised, could supply up to 4.5 percent of Britain’s gas demand.
Equinor’s renewed application comes as Labour reportedly considers softening its North Sea stance amid pressure from industry and political opponents. Conservatives and Reform have pledged to substantially increase drilling if elected, echoing former US president Donald Trump’s calls to maximise North Sea output, which he labelled a “treasure chest” for the UK. Ed Miliband, however, continues to argue the expansion of extraction will do little to reduce energy bills for ordinary households.
Environmentalists have condemned any move to permit Rosebank, naming it a litmus test of Labour’s pledges on climate leadership. Tessa Khan of advocacy group Uplift warns that most of the oil from Rosebank would be destined for export, having negligible benefit for UK bills or energy security. She calls on the government to double down on clean energy investment, rather than subsidising what she argues is a declining industry with mounting state support.
Equinor insists Rosebank can offset the decline in domestic production while offering a smaller carbon footprint than much of the current output from the UK Continental Shelf. The company highlights local investment and job creation as significant benefits flowing from the project. For now, government officials have declined to comment on the application, with Rosebank’s fate hanging in the balance as the debate over the UK’s energy direction intensifies.
The following content has been published by Stockmark.IT. All information utilised in the creation of this communication has been gathered from publicly available sources that we consider reliable. Nevertheless, we cannot guarantee the accuracy or completeness of this communication.
This communication is intended solely for informational purposes and should not be construed as an offer, recommendation, solicitation, inducement, or invitation by or on behalf of the Company or any affiliates to engage in any investment activities. The opinions and views expressed by the authors are their own and do not necessarily reflect those of the Company, its affiliates, or any other third party.
The services and products mentioned in this communication may not be suitable for all recipients, by continuing to read this website and its content you agree to the terms of this disclaimer.






