Equinor (EQNR) has suspended its sale of a stake in the $3.8 billion Rosebank oil project in the North Sea due to fiscal uncertainties tied to the upcoming UK election.
LONDON (Reuters) -Norwegian energy giant Equinor has suspended efforts to sell a stake in the giant Rosebank oil development in the UK North Sea due to fiscal uncertainty ahead of next month's election in Britain, sources close to the matter said on Friday. The opposition Labour party commands a clear lead over Sunak's Conservative party in polls. Equinor earlier this year launched the sale of a 20% stake in the $3.8 billion Rosebank oil development, the largest project in the ageing basin in recent years.
The Brooklyn hub will supply an offshore wind project being built by Norwegian energy giant Equinor.