PRESS: UK PM Andy Burnham "minded to approve" North Sea gas field
UK Prime Minister Andy Burnham is minded to approve the Jackdaw gas field in the North Sea, The Telegraph reported Monday.
Labour insiders reportedly said Burnham is leaning towards approving Jackdaw, however no formal decision has been made.
One approach would be to delay the decision until the heatwave is over, as approving it in the middle of the heatwave could be "politically challenging".
Meanwhile, the industry was warned by "Labour figures" to prepare for the UK government rejecting Rosebank, a similarly substantial field as Jackdaw.
The company behind the Jackdaw and Rosebank projects is Adura, a joint venture between London-based oil major Shell PLC and Stavanger, Norway-based Equinor ASA.
The final decisions on approval would rest with Energy Secretary Miatta Fahnbulleh, who in the past has opposed new oil and gas drilling but in July said she would be "pragmatic" on North Sea drilling.
Shell shares were 0.2% lower at 3,314.00 pence each on Monday morning in London, while Equinor shares were 0.7% higher at EUR35.44 each in Frankfurt in the early afternoon.
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