UK Budget forecasts assume ministers approve new North Sea discoveries holding ~1.2bn barrels of oil and gas, beyond Jackdaw and Rosebank. Skip the approvals and the Treasury risks a multibillion-pound fiscal hole. #NorthSea#UK#OilandGas
Equinor says its Afrodite gas discovery in the Norwegian North Sea may hold more than twice the volumes first thought, now 77-180 million boe recoverable, after a new appraisal well. Gas could flow to Europe. #Equinor#NorthSea#NaturalGas#Norway
Britain launched a £2 billion Energy Wealth Fund to channel North Sea oil and gas tax revenues into renewable energy. Treasury modelling says a fund started decades ago could have reached roughly £1 trillion. #UK#NorthSea#Oil#Energy
The UK finally approved the Jackdaw gas field, owned by Shell-Equinor JV Adura, after four years in regulatory limbo. Ministers cited jobs and energy security, but the bigger Rosebank oil field may still be rejected. #NorthSea#UK#NaturalGas
BP is selling its entire UK North Sea business, ending a 60-year era, as Exxon and Chevron already exited. Independents Harbour, EnQuest and Ithaca are buying in to a basin that now pumps only about 1M boepd. #NorthSea#BP#OilAndGas
