Rosebank oil to be sold abroad

The UK government has acknowledged that oil extracted from the Rosebank field, previously touted for domestic energy security, will be sold on the international market

The UK Government has acknowledged that oil extracted from the Rosebank field will not be reserved for domestic consumption but rather sold on the international market.

Despite previous assurances from ministers that the development of this oilfield off Shetland would enhance UK energy security and benefit consumers, a written response to a parliamentary question indicated that private companies would predominantly sell the oil abroad.

The government justified this by stating that it is not advisable to mandate private companies to allocate North Sea oil for domestic use.

Critics, including Labour MP Lloyd Russell-Moyle, argue that the revelation contradicts the government’s claims and highlights the need for a careful and fair transition away from carbon-intensive practices.

A Department for Energy Security and Net Zero told Energy Live News: “As a net importer, it makes sense to use home-grown British resources to manage the decline in domestic oil and gas production in a way that reduces our vulnerability to hostile states.

“UK gas production is four times cleaner than shipping liquefied natural gas to the UK.

“We will continue to back the UK’s oil and gas industry, which underpins our energy security, supports up to 200,000 jobs, and will provide billions in tax revenue over the next five years – helping fund our transition to net zero.“

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