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Sunak hails Rosebank oil field approval amid climate outcry (www.bbc.com)

submitted 11 months ago by [email protected] to c/[email protected]

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To extract oil and gas from a facility like this, a series of wells are drilled into the seabed and then the products extracted to a ship moored to the seabed. This offloads the oil onto big ships called tankers, while the gas is sent down a pipeline.

The drilling and anchoring of the ship, as well as chemicals released, have the potential to disturb the seabed and damage habitats - and potentially kill animals living there such as soft corals and sea spiders.

There is also a lot of noise produced underwater when oil is extracted. This is important because many species in the marine environment use sound to communicate.

What Rosebank produces will be sold at world market prices, so the project will not cut energy prices for UK consumers, the Norwegian state oil company Equinor - which is the majority owner of Rosebank - confirmed.

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[–] [email protected] 0 points 11 months ago (2 children)

it will raise billions of pounds

For who?

[–] [email protected] 1 points 11 months ago* (last edited 11 months ago) (1 children)

£10.6 billion to the UK government in North Sea revenue for 22/23 v. £2.6 billion for 21/22.

Equinor (Rosebank majority owner) revenues for 22: $75 billion
Ithaca (Rosebank minority owner) revenues for 22: $1.9 billion
BP (formerly state-owned; majority privatisation under Thatcher, from 1979) revenues for 22: $241 billion, for record profit of $28 billion (£23 billion)

[–] [email protected] 1 points 11 months ago

I was referring to the £1b Sunak's family got for this deal.