Latest news with #Rosebank
Bloomberg
21 hours ago
- Business
- Bloomberg
Contested UK Oil Fields Get New Guidance for Environment Permits
Two controversial oil and gas fields in the UK — led by Equinor ASA and Shell Plc — will now have the opportunity to re-apply for environmental permits after the government published a guidance on how it will asses the climate impact of fossil fuel projects. While the state gave no indication of whether the Rosebank and Jackdaw projects could gain approvals, it said the long-awaited document provides 'greater clarity and stability' for the industry, according to a statement from the the UK's Department for Energy Security and Net Zero.
BBC News
a day ago
- Business
- BBC News
New guidance published for North Sea oil and gas projects
The UK government has published guidance on how it will consider fresh applications for oil and gas move will determine whether production can go ahead in the controversial Scottish fields, Rosebank and Jackdaw - but gives no indication as to whether ministers would give their will now have to draw up new environmental impact assessments that take emissions released from burning oil and gas into account - not just the emissions from Minister Michael Shanks said the guidance provided clarity on the way forward for the North Sea oil and gas industry. Climate campaigners say new developments will make "barely a dent" in the UK's reliance on imported fossil new guidance was drawn up in response to a landmark Supreme Court ruling last year, that Surrey County Council should have considered the full climate impact of burning oil from new those assessments took into account emissions generated by the process of extracting oil and gas. However, they did not count the greenhouse gases which would be released when those fossil fuels were eventually burned - known as "downstream" or "Scope 3" January, the Court of Session in Edinburgh ruled that the decision in that case should apply retrospectively to Rosebank and Jackdaw gas field in the North Sea was originally approved by the previous UK Conservative government, and the industry regulator, in summer for the Rosebank oil development, 80 miles west of Shetland in the North Atlantic, was granted in autumn Ericht said work on both fields could continue while the new information was gathered but no oil and gas could be extracted unless fresh approval was granted. The climate watchdog - Offshore Petroleum Regulator for Environment and Decommissioning - and regulator the North Sea Transition Authority had paused decisions on licenses for new drilling projects and the granting of existing licenses until the government clarified its of the new guidance means offshore developers can submit their applications for consent to extract oil and gas in already-licensed Secretary Ed Miliband and the regulator will then reconsider whether or not to grant consent, taking downstream emissions into UK government said it would consider the significance of a project's environmental impact, "while taking into account and balancing relevant factors on a case-by-case basis such as the potential economic impact and other implications of the project".No decisions are expected until the end of the Shanks said: "This new guidance... marks a step forward in ensuring the full implications of oil and gas extraction are considered for potential projects and that we ensure a managed, prosperous, and orderly transition to the North Sea's clean energy future, in line with the science."We are working with industry, trade unions, local communities and environmental groups to ensure the North Sea and its workers are at the heart of Britain's clean energy future for decades to come – supporting well-paid, skilled jobs, driving growth and boosting our energy security." 'Incompatible' with climate commitments Tessa Khan, executive director of the climate campaign group Uplift, said the new guidance means that oil and gas companies will be "finally be forced to come clean over the enormous harm they are causing to the climate".She said: "In the case of the Rosebank oil field, which Equinor can now seek reapproval for, it is overwhelmingly obvious that the project is incompatible with the UK's climate commitments. "Whether or not this government then follows the science and rejects Rosebank will be a real test of its climate credibility."Ms Khan added that Rosebank is a "bad deal" for the UK, would not help lower fuel bills or boost energy update comes shortly after the UK government's Spending Review last week, which included about £200m for the Acorn Carbon Capture and Storage (CCS) scheme in also told the BBC he expects plans to be announced "soon" for the future of Grangemouth. This is a significant moment for the future of the North Sea but it effectively tells us it does, though, is it takes the brakes off future development within existing licence seeking consent to produce oil and gas will now be allowed to resume their applications, which have been on hold since the Supreme Court now have to produce an environmental impact assessment which sets out at all the planet warming greenhouse gas emissions associated with the production and consumption of the that, they have to set out what impact those emissions will have on the warming of the receive consent, they must set a compelling case for why those emissions must be offset against the benefits of giving the project the go the minister will use a matrix to decide whether to approve or reject any won't really know what impact all of this will have on those decisions until the first of them are there's a summer of uncertainty ahead. But we could start to gather a picture of whether the North Sea has a viable future from August onwards.
Daily Mail
06-06-2025
- Business
- Daily Mail
Leading businessmen Simon Peckham urges politicians to back UK firms
Politicians have been urged by one of Britain's leading businessmen to get behind wealth creators. As concern grows that the Government is hammering the private sector, Simon Peckham, who has made a fortune buying up and turning around industrial firms, said ministers 'should support' business. 'It would be nice if politicians understood that what [business] people are trying to do is generate wealth,' he said. 'If you don't generate wealth you don't generate tax income, and if you don't generate tax income you won't have any money to spend on causes they want to support, and which civilised countries probably should support.' Peckham is best known as the former boss of Melrose, the FTSE 100 firm which thrived by snapping up businesses under its 'buy, improve, sell' mantra. Most controversially, it took over and broke up the historic British industrial conglomerate GKN, earning opprobrium from unions and politicians. Peckham, 62, has since moved on to new venture Rosebank, which operates under the same principle and yesterday announced its first deal, the purchase of 72-year-old US firm Electrical Components International (ECI), a leading global supplier of electrical systems. Rosebank said it was raising £1.1bn to fund the deal, which it said values ECI at less than £1.5billion. The company said takeover opportunities had been 'enhanced by the turbulence of recent months' as Donald Trump's tariffs throw global trading into turmoil. Rosebank's acquisition of a US firm with more than £900m in annual revnenues represents a rare win for a UK-listed firm at a time when London's stock market is being degraded by foreign takeovers as well as the departure of many of its leading companies for New York. UK firms are being hammered by Labour's determination to saddle them with higher taxes and a raft of new workers' rights. Chancellor Rachel Reeves this week failed to rule out raising taxes further. Peckham said Rosebank would '100 per cent' remain on the UK market, adding 'we are proud to be so'. But he urged UK politicians to do more to back business.
Zawya
05-06-2025
- Business
- Zawya
The future of search: Why Location Bank matters in the age of AI?
With the explosive rise of AI-driven assistants like ChatGPT, Siri, Alexa, and Google Assistant the way people search is fundamentally changing. Traditional typed searches are giving way to voice commands, conversational queries, and intelligent prompts. But, when it comes to location based searches (or prompts), behind this shiny new interface lies something essential: the same old data. Whether someone asks Siri 'Where can i find a good burger in Rosebank' or types a query into an AI chat window, these platforms don't invent answers from thin air. They pull from structured, trusted data sources like Google Maps, Bing, Apple Maps, and more. And if your brand's location data isn't present, accurate, and consistent across these sources, you're invisible in this new AI-powered world. 'The future of search may look different on the surface but under the hood, it still depends on one thing: clean, trusted data,' said Neil Clarence, Co-founder of Location Bank. 'That's where we come in.' Welcome to the new search ecosystem The future of search is layered, decentralised, and intelligent but every layer still depends on accurate data. Here's how: - ChatGPT pulls data through Bing → Location Bank integrates directly with Bing - ChatGPT pulls data from a brands store locator - Location Bank powers these with consistent data. - Siri now taps into ChatGPT + Apple Maps → Location Bank supports both. - Google Assistant relies on Google Maps → Location Bank publishes to it natively. Location Bank. (2025). Store Locator As AI platforms scrape and learn from massive amounts of third-party data, the quality and consistency of your business's location presence has never mattered more. Why Location Bank is now critical infrastructure Location Bank ensures that your business is published correctly: name, address, phone number, hours, categories, and more across a powerful network of digital endpoints. This includes Google, Bing, Meta, Apple Maps, TomTom, Here, and in-car navigation systems. Here's what that means in practice: - If a customer asks Siri 'Where can I find a good burger in Rosebank?" you show up because your data is there on Apple Maps. - If a user asks ChatGPT 'Where can i find a good burger in Rosebank? and ChatGPT leans on Bing, you show up because your data was indexed. - If someone uses Google Assistant, your business is found because your details are perfectly synced with Google Maps. Even as consumer search habits change, your discoverability doesn't - because you are present where AI learns. The trust factor in an AI world AI systems are trained to prioritise accuracy, authority, and consistency. When your business details vary across platforms or worse, don't exist at all AI deprioritises you in favor of more reliable sources. Inconsistent data confuses search engines, but it completely disqualifies you from intelligent agents that rely on trustworthy signals. That's why uniform, verified, and up-to-date location data is no longer just a local SEO best practice - it's a foundational strategy for AI-era visibility. 'In the age of AI, your discoverability is determined by the quality of your data,' added Neil Clarence. 'We don't just publish your locations, we make them findable, verifiable, and trustworthy across every digital touchpoint.' AI might be transforming how people search but it still relies on structured data to deliver results. Location Bank helps ensure that your business isn't just listed, but trusted, synced, and ready for discovery no matter how or where consumers search. In the era of AI, your visibility will be shaped by your data. Location Bank makes sure your data is everywhere it needs to be. About Location Bank Location Bank is a leading MarTech platform that enables brands to centrally manage and sync their digital location data across key digital platforms. By delivering consistent, verified business information at scale, Location Bank helps brands enhance discoverability, build trust, and thrive in an AI-first digital landscape.
Scotsman
01-06-2025
- Politics
- Scotsman
Why Scotland must stop North Sea oil fields, like Rosebank, from being used to exploit Gaza citizens
Humza Yousaf, the former first minister, argues against allowing Ithaca Energy's owners to press ahead with Rosebank in the North Sea. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... 'We survived.' That is the message we wait for every morning from Sally, my wife Nadia's cousin, who lives in Gaza with her husband and four young children. I say 'live', but in reality, their daily goal is simply to survive the barbaric Israeli onslaught that has so far claimed the lives of over 50,000 Gazans, including around 17,000 children. That is before we are even able to begin counting the bodies trapped under rubble. Advertisement Hide Ad Advertisement Hide Ad Displaced Palestinians flee Khan Younis, Gaza, amid the ongoing Israeli military offensive in the area | AP There are no words left to describe the scale of inhumanity we are witnessing in Gaza. Many seasoned diplomats and humanitarian workers who have been to numerous conflict zones over the decades all, to a man and woman, say the same thing; Gaza is the worst humanitarian catastrophe they have ever seen – and of course it is entirely man-made. The situation is now beyond urgent. Tom Fletcher, UN humanitarian chief last week warned that thousands of babies in Gaza could die if more aid is not allowed in. And he asked the question to world leaders and all of us - are we 'doing all we can' to stop the suffering? We have heard stronger language from the UK government, with the Foreign Secretary calling Israel's actions 'monstrous' and 'intolerable' in a recent Commons statement. However, what we need, and more importantly the people of Gaza need, is to ensure that rhetoric transforms into meaningful action that will hopefully stop the scale of devastation we are witnessing. Advertisement Hide Ad Advertisement Hide Ad The most immediate, and probably effective step the UK government could take is to stop all arms sales to Israel. How on earth can the UK government continue to legally, let alone morally, justify selling arms to a government headed by a man wanted by the ICC for war crimes and crimes against humanity? While responsibility for arms export licenses lies with the UK government, we can also use whatever influence and power we have in Scotland to oppose the onslaught faced by the people of Gaza, at the hands of the Israeli Government. It is easy to feel powerless, but we can start by looking at the role this country – and our resources – are playing in funding the suffering the people of Gaza are facing. Advertisement Hide Ad Advertisement Hide Ad Profits from Scotland's oil and gas reserves are right now flowing to a company linked to human rights violations in Palestine, and hundreds of millions of pounds more could follow in the near future. Few have heard of Ithaca Energy, but it is on track to become the largest North Sea oil and gas producer. It holds stakes in seven out of ten of the basin's largest fields and is part of the two largest, most controversial undeveloped fields in the basin: the Rosebank and Cambo oil fields off the west coast of Shetland. Extinction Rebellion activists campaign against the Cambo oil field development. When I publicly opposed the UK government's approval of the Rosebank oil field as first minister, I did so for environmental reasons and the impact continuing to develop new oil and gas fields will have on our climate. And of course, these concerns remain. However, information about Ithaca Energy's owners, Delek Group, only give further rise to concerns I have. Ithaca is majority-owned by the Israeli fuel conglomerate, Delek Group, which has been flagged by the UN for human rights violations in Palestine. Delek operates in illegal Israeli settlements across the Palestinian West Bank and is known to provide fuel to the Israel Defense Forces, via a subsidiary. Advertisement Hide Ad Advertisement Hide Ad There is near-universal agreement across the world that settlements are illegal under international law. We have, over the past 19 months, seen an increase in settler violence against innocent Palestinians. By their very nature, settlements are a tool used by the Israeli state to occupy more and more Palestinian land. This is why countries like Ireland are now taking steps to ban trade with Israeli businesses in occupied territories. We also know Delek's activities in illegal settlements was one of the reasons Norway's largest pension fund, KLP, divested from Delek Group in 2021 citing an 'unacceptable risk of the company contributing to or being responsible for serious breaches of ethical norms'. A company that is cited by the UN for possible human rights violations, and which has a contract with the IDF who are responsible for the mass slaughter of tens of thousands of children in Gaza, should not be allowed to profit from Scotland's resources. Advertisement Hide Ad Advertisement Hide Ad If the UK government allows the development of the Rosebank oil field, it's estimated it will see more than a quarter of a billion pounds in profit flow to Delek. A map showing the location of the Rosebank and Jackdaw oil fields | Kimberley Mogg/NationalWorld If Ithaca is allowed to continue to expand in the North Sea by developing Rosebank, the answer to the question posed by Tom Fletcher - 'are we doing all we can?' - would be an emphatic no. We cannot allow oil fields signed off in Westminster to be used to bankroll injustice across the world. I am certain that one day those who are responsible for the war crimes we are witnessing in Gaza will be held to account. We must ensure we are in no way complicit; Scotland must not allow our natural resources to become a revenue stream for companies tied to the oppression of the Palestinian people.
