Equinor boss warns UK risks becoming 'uninvestable' if Rosebank and Jackdaw oil fields are blocked

From the Newshound archive · first published 7 October 2026 · last updated 8 October 2026.

A North Sea oil and gas rig, as Anders Opedal warns that blocking Rosebank — which could supply 8–10% of UK energy needs — would leave investors questioning whether Britain is "investable.

Anders Opedal, chief executive of Norwegian state giant Equinor, has warned his company could pull all future UK investment if the government refuses to greenlight the Rosebank and Jackdaw North Sea oil and gas fields. Opedal told the BBC the decision was "a political choice" and blocking drilling would be like "pulling down the old house before the new one is built." Rosebank alone holds up to 500 million barrels, and Norway already supplies half the UK's gas. A ruling is expected before 2027.

Equinor part-owns both fields, whose licences were ruled unlawfully granted in January last year for failing to account fully for their climate impact.

PM Andy Burnham has signalled a 'pragmatic' approach to North Sea oil, breaking with Labour's election manifesto pledge of a complete ban on new drilling.

Russell Borthwick of Aberdeen & Grampian Chamber of Commerce said Whitehall 'should be extremely worried' when a global energy giant issues such a stark warning.

Daily Mail'We will ask if UK is investable': Energy giant warns of threat to North Sea oil and gas if Rosebank and Jackdaw are blocked The IndependentOil giant threatens to stop UK investment if North Sea drilling is denied City A.M.UK ‘uninvestable’ if North Sea projects are blocked The ScotsmanBoss of oil giant questions future UK investment if North Sea drilling is denied This is Money on MSNLabour blasted over North Sea as energy giant threatens to pull investment if Rosebank is blocked

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