INEOS boss: North Sea decommissioning is ideological and destructive

cityam09-03 20:45

From 2029, decommissioning spending will overtake capital investment in the North Sea. This is economic self-harm, writes INEOS Energy chairman Brian GilvaryThe impending decision by the UK government...

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This is economic self-harm, writes INEOS Energy chairman Brian GilvaryThe impending decision by the UK government...</p>\n\n<a href=\"https://www.cityam.com/ineos-boss-north-sea-decommissioning-is-destructive-and-ideological/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>INEOS boss: North Sea decommissioning is  ideological and destructive</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nINEOS boss: North Sea decommissioning is  ideological and destructive\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-03 20:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/ineos-boss-north-sea-decommissioning-is-destructive-and-ideological/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>From 2029, decommissioning spending will overtake capital investment in the North Sea. This is economic self-harm, writes INEOS Energy chairman Brian GilvaryThe impending decision by the UK government...</p>\n\n<a href=\"https://www.cityam.com/ineos-boss-north-sea-decommissioning-is-destructive-and-ideological/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GUSH","symbol_name":"Direxion Daily S&P Oil &Gas Exp. & Prod. 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This is economic self-harm, writes INEOS Energy chairman Brian GilvaryThe impending decision by the UK government over whether to approve the Jackdaw and Rosebank fields will mark a pivotal moment in the history and future of the North Sea. Almost 11bn of private investment waits in the wings, and the outcome of this decision will be a marker of whether Britain can regain its reputation as a serious place to invest in energy.Approval would send a positive signal, but the issue is far bigger than two projects. Years of policy instability under consecutive governments, restrictions on new drilling and the Energy Profits Levy  have made it extremely challenging to make a business case for investment, causing capital to dry up.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GUSH":"Direxion Daily S&P Oil &Gas Exp. & Prod. 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Bear 2X Shares","BK4588":"碎股","VDE":"Vanguard Energy ETF","BK4585":"ETF&股票定投概念","XES":"SPDR S&P Oil & Gas Equipment & Services ETF","DRLL":"Strive U.S. Energy ETF","ERX":"二倍做多能源ETF-Direxion","IXC":"全球能源业ETF-iShares","FTXN":"First Trust Nasdaq Oil & Gas ETF","DBC":"商品指数ETF-PowerShares DB","IEO":"iShares Dow Jones U.S. Oil & Gas","PXJ":"Invesco Oil & Gas Services ETF","WTIU":"MICROSECTORS ENERGY 3X LEVERAGED ETN","USE":"USCF Energy Commodity Strategy Absolute Return Fund","DIG":"二倍做多美国油气指数","DBE":"能源商品ETF-PowerShares"},"translate_title":"英力士老板：北海退役是意识形态和破坏性的","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VDE":0.62,"DIG":0.62,"DBE":0.62,"GUSH":0.62,"DBC":0.62,"PXE":0.62,"DRIP":0.62,"IEO":0.62,"XES":0.62,"PXJ":0.62,"FTXN":0.62,"DRLL":0.62,"WTIU":0.62,"USE":0.62,"ERX":0.62,"IXC":0.62},"content_text":"From 2029, decommissioning spending will overtake capital investment in the North Sea. This is economic self-harm, writes INEOS Energy chairman Brian GilvaryThe impending decision by the UK government over whether to approve the Jackdaw and Rosebank fields will mark a pivotal moment in the history and future of the North Sea. Almost £11bn of private investment waits in the wings, and the outcome of this decision will be a marker of whether Britain can regain its reputation as a serious place to invest in energy.Approval would send a positive signal, but the issue is far bigger than two projects. Years of policy instability under consecutive governments, restrictions on new drilling and the Energy Profits Levy (EPL) have made it extremely challenging to make a business case for investment, causing capital to dry up.\n\nAccelerating the closure of the UK North Sea does nothing to reduce global emissions. Demand for oil and gas remains, meaning production and carbon emissions are simply exported, starving the UK of valuable jobs, investment and tax revenues. This is damaging our energy security and long-term national wealth.Let’s call this what it is. This is not managed decline; it is ideological destruction of a national resource owned by the country in the name of net zero.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe decommissioning paradoxApproving Jackdaw and Rosebank will not undo years of damage on its own.\n\nBy telling investors for years that the UK North Sea is not a reliable place to deploy capital, operators have voted with their feet, closing fields and redirecting investment. Last month, BP was the latest in a long list of operators to announce that it would be shutting up shop and directing investment elsewhere by announcing that it was marketing its UK North Sea oil and gas business. Ironically, much of this investment has been channelled into the very same basin but under a different flag. Norway is now investing roughly 10 times more than the UK in its own continental shelf, and it is even exporting some of that gas back to UK shores.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.49.0","shortVersion":"4.49.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2664872288","isCrawlerRequest":true}