The row over the future of the North Sea oilfield has intensified, with the chancellor signalling his support. Mr Healey told ITV he expected oil and gas revenues to contribute to a new energy wealth fund, a suggestion that indicated he anticipated income from Rosebank. The energy secretary, who is ultimately responsible for the decision, recently granted permission for the smaller Jackdaw gasfield but has indicated that the rationale for that project does not apply to Rosebank.
Ms Fahnbulleh told the Guardian: "One is a gasfield that caters for the domestic market, while the other is an oilfield that is mainly for export. It is right that we judge each application in its own right, and it is absolutely critical that the decision is consistent with our climate obligations, our carbon budgets and the end destination we need to get to with the energy transition."
According to a report in the Mail on Sunday, the prime minister and the chancellor have agreed to try to push the project through, but No 10 declined to comment, saying it was a matter for the energy secretary. Ms Fahnbulleh has not yet made her decision, officials say. Rosebank would produce emissions about seven times greater than Jackdaw, and most of the oil would be exported, raising questions about its contribution to UK energy security.
Labour MPs said on Wednesday that there would be a big pushback in the party if Rosebank is approved, with some considering ways to force a parliamentary vote to express dissent. A spokesperson for the Department for Energy Security and Net Zero said: "We do not comment on speculation. The North Sea remains a vital national asset, and oil and gas will continue to play an important role in our energy system for decades to come – alongside transitioning to clean power to protect jobs and tackle the climate crisis. Any decision will take into account all relevant evidence, including environmental assessments and public representations received during the consultation process."
Ms Fahnbulleh has promised that future revenues from the North Sea will be spent on green energy projects through an energy wealth fund. She said last week that the fund would be given £2bn in the budget. "When we have tax revenues that are coming from the oil and gas industry, it is right that we invest that in the transition we need to make in energy," she said, adding that the money would be spent on renewables, nuclear and other clean energy schemes.
