Running on Empty: 3 Energy Plays for Europe's Deep Freeze

Shell-backed Adura received renewed approval for the Jackdaw gas project in the North Sea, despite environmental concerns. The government acknowledges limited consumer benefits and significant greenhouse-gas effects. Shell and partner Equinor welcome the decision, seeing it as a regulatory breakthrough for their joint venture.

The UK government approved production at the Jackdaw gas field, a Shell (SHEL) and Equinor joint venture. Production is expected to start within weeks, boosting UK gas output by 6% and contributing £2.9 billion to the economy over 11 years. Shell offers a 2.95% dividend yield with a 31% payout ratio and a 7.8% 3-year dividend growth rate. The company's GF Score is 72/100, indicating strong financial health and profitability.

The U.K. approved Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field development in the North Sea, concluding a lengthy approval process.

The UK government approved the Jackdaw gas field project in the North Sea, expected to boost domestic gas production by 6% and add $3.8bn to the economy. The field, operated by Adura (a Shell and Equinor joint venture), will supply gas from this month and create/safeguard jobs. The government also launched a £2bn Energy Wealth Fund for renewable projects.

UK government approved the Jackdaw gas field, expected to produce 35.8 million tonnes of CO2. The decision was made by a department that employed an oil industry lobbyist from 2024 until last month. Shell, a beneficiary of the decision, is a member of the lobby group that placed the lobbyist. Labour had pledged to ban new drilling licenses, but faces lobbying pressure. Shell's profits have increased over the past year.

The UK government approved the Jackdaw natural gas project off Scotland, citing energy security. The project, developed by Adura (Shell and Equinox), will contribute 5% of UK gas production. Environmental groups oppose it, arguing it conflicts with climate goals. The Rosebank project awaits approval.