Various statements have been made in the public or interpreted by the press. "It is not actually clear at the moment exactly what the Labour policy is. On the regulatory process, he said the Offshore Petroleum Regulator for Environment & Decommissioning had completed questioning the Rosebank partners and was weighing the matter before passing it back to the main regulator, the North Sea Transition Authority (NSTA). The Rosebank operator, Norway's Equinor, says it is keen to go ahead, despite the heated UK debate over hydrocarbons.īruce said Labour policy was not yet fully formed, and the company continued to talk with politicians about the implications for energy security, jobs, fuel prices and emissions.
Ithaca is a partner in both Cambo and Rosebank, the latter estimated at 325 million barrels of oil equivalent. A general election must be held by January 28, 2025, with pundits pointing to the latter half of 2024 and polls suggesting a Labour win. It follows reports that Labour leader Keir Starmer will commit to such a moratorium as part of the country's move to net-zero emissions. Presenting first-quarter results, CEO Alan Bruce played down reports that Labour, tipped for success at the next general election, would outlaw new oil and gas project approvals, and said there was time to overcome Labour's "uncertainty," with the vote likely some way off. Receive daily email alerts, subscriber notes & personalize your experience.
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