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Stunning News: Rosebank Field Development Plan No Longer in Effect
Consent rescinded
London, UK:
The North Sea Transition Authority has today rescinded its development and production consent for the Rosebank field, north-west of Shetland. Citing discrepancies in the original Net Zero calculations and review conducted, and a re-commitment to Paris Agreement emissions reductions ahead of COP28, the authority announced today that it could not allow the Rosebank development to proceed as originally planned.
Consent was initially granted in late September for development in what is thought to be one of the largest untapped oil fields in UK waters. The International Energy Agency’s 2023 Net Zero Roadmap (also published last September) stated categorically that the time for new oil and gas is over. If we are to limit global warming to 1.5 degrees, then world leaders must not develop any new oil, gas or coal beyond existing fields.
According to Oil Change International, halting new oil and gas exploration may not even be enough to meet these targets. In fact, in their August 2023 briefing, their research concluded that “60% of fossil fuels must stay in the ground” in order to meet the 1.5 degree target.
And this research is supported by many environmentalists and activist groups, most notably…
