New Study Claims UK North Sea Oil Isn’t Worth the Trouble or Expense

The United Kingdom’s North Sea Transition Authority gave the greenlight in September for the development of the Rosebank field by owners Equinor ASA (NYSE:EQNR) and Ithaca Energy, with Prime Minister Riki Sunak’s government arguing that  projects such as these are necessary to bolster domestic oil and gas production, lower costs for consumers, and provide “energy security” as the country transitions to low-carbon energy. But the new North Sea licenses could be more trouble than they are worth, a fresh study has found. …