By Mark Wilson, Offshore Energies UK director of HSE and operations
Edinburgh’s court of session decision this week will allow continuing development of North Sea oil and gas fields pending supplementary environmental impact assessments of downstream emissions.
North Sea operators are able to press ahead with the development of two major oil and gas fields, despite environmental campaigners claiming a "historic win" in a landmark court ruling.
A Dutch court has overturned a landmark ruling against Shell that would have forced the oil company to reduce emissions produced by its petrol customers.
The UK government will not challenge judicial reviews brought against development consent for the Jackdaw and Rosebank offshore oil and gas fields in the North Sea.
Ithaca Energy (LON: ITH) has hailed "robust" cash flow but has warned about the "ongoing impact" of the UK government's oil and gas fiscal policies and the "long-term damage" they will cause.
Climate law experts say the Supreme Court's decision will likely "undermine investor confidence" in the North Sea and boost legal challenges to the Jackdaw and Rosebank developments.
Now that Repsol has settled its spat with Sinopec, the company has admitted it is “reviewing” its structure, with nearly 100 jobs expected to go. It set out plans recently for more activity, striking a slightly unusual tone – and failing to blame the windfall tax, unlike many of its contemporaries.
An Energy Voice documentary answers key questions on the furore around Rosebank, the largest untapped find in UK waters and perhaps the most controversial oil field of recent times.
“But most of the cash flow increase is coming from improvements in the quality of the portfolio. We're shifting from mature legacy assets to next generation assets.”