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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose

Norwegian firm lobbying to open Rosebank oilfield halves green investments

Oil Rosebank Norway Equinor British Petroleum
Equinor's Johan Sverdrup oilfield platforms in the North sea
Equinor's Johan Sverdrup oilfield platforms in the North sea Photograph: Ints Kalniņš/Reuters

The Norwegian oil company fighting to open a giant new oilfield off Shetland has cut billions of pounds from its green spending plans in favour of producing more fossil fuels.

Equinor set out plans on Wednesday to halve its investments in low-carbon energy while producing more oil and gas, becoming the latest in a line of fossil fuel firms to backtrack on its green promises.

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