<div id="readability-page-1">  <p><time datetime="2026-05-20T07:44:43+01:00">    Wednesday 20 May 2026 7:44 am  </time></p>         <div>                                                                                                                 Add as a preferred        source on Google                        </div>    <figure>    <div>       </div> <img width="742" height="495" src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2026/03/An-oil-terminal-in-the-North-Sea.jpg/query-dz03NDI?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2026/03/An-oil-terminal-in-the-North-Sea.jpg/query-dz03NDI"/>  <figcaption>The boss of Shell has urged Miliband to ramp up drilling in the North Sea</figcaption> </figure> <p>The boss of one of the UK’s biggest oil giants has called on the government to kickstart drilling in the North Sea, claiming it would grant the economy a needed boost and enhance both energy and national security.</p><p>Wael Sawan, chief executive of Shell, called for energy secretary Ed Miliband to approve two key oil and gas fields, both of which Shell has a stake in through a joint venture, arguing the schemes would “create jobs” that in turn “create taxes”.</p><p>He also argued having “homegrown resources” would boost national security, claiming it was more ideal that getting energy through imports.</p><p>His comments to The Telegraph follow months of uncertainty regarding both the Jackdaw gas field in the North Sea and the Rosebank oil field off Shetland, which are two of the biggest untouched reserves in UK waters.</p><h2 id="h-jackdaw-and-rosebank">Jackdaw and Rosebank</h2><p>Shell and Equinor’s, a Norwegian energy company, joint venture Adura has been waiting for Miliband to make a decision about the site, after the court referred the projects to the energy secretary, following a legal battle between developers and green groups over emissions.</p><p>Adura was created by the two companies to combine their UK offshore oil and gas assets, and operates fields including Mariner and Buzzard.</p><p>The venture has been left in limbo, after Miliband described such schemes as “climate vandalism” while in opposition, with his office having delayed a decision regarding the sites for months, despite claims approving the projects could help ease pressures caused by the Iran war.</p><p>Sawan claimed the Jackdaw field has the “opportunity to bring gas that is home-grown to the UK before the end of the year”, claiming it is a “real opportunity”.</p><p>He said: “If the UK grasps this, it assures a volume of resources coming from a secure field here in the UK”.</p><p>The boss of the FTSE 100 stalwart also claimed Rosebank would similarly allow the UK to bolster its resources, saying “Shell is a partner” that can help the government develop oil resources.</p><h2 id="h-north-sea-tensions">North Sea tensions</h2><p>But tensions over the future of the North Sea are growing, with the energy secretary facing down challenges in the Commons on Tuesday over his plan to block new licences for exploring new oil and gas fields in Britain.</p><p>The King’s Speech included new legislation last week that would introduce a legal prohibition on new drilling, making Miliband’s challenge permanent.</p><p>The Conservative’s attempt to table an amendment on the legislation was thrown out of the Commons on Tuesday.</p><p>Both the Jackdaw and Rosebank fields do not fall under the temporary suspension on new drilling, with Adura planning to move a giant oil storage ship to the latter next week, in an attempt to place pressure on Miliband to approve.</p><p>Sawan went on to claim the global oil shortage caused by the conflict will worsen in the coming months, with the closure of the strait likely to damage “crude supply” and other products such as jet fuel and petrol.</p><p>But he admitted Shell is likely to continue to profit off the crisis, with the company having lost production in Qatar, equivalent to “roughly 300,000 barrels of oil per day”.</p><p>The loss represents around 10 per cent of its overall production according to Sawan, with commodity prices rising sharply in recent months.</p><p>He said: “We’ll see where the results land by the next quarterly results, but I won’t speculate on what those numbers look like.</p><p>Shell’s share price has jumped 19.1 per cent since January, trading at 3,287.5p, and reporting earnings of $6.9bn (£5bn) in the first quarter of the financial year.</p><p>Its upstream segment, which covers crude oil, natural gas and natural gas liquids, delivered a $1.2bn jump in the first quarter, taking earnings to $2.4bn. This was up from $1.6bn in the previous quarter.</p> </div>

SHEL

<p>Shell's CEO, Wael Sawan, urges the UK government to approve drilling in the North Sea to boost the economy and enhance energy security. He highlights the potential job creation and tax revenue from the Jackdaw and Rosebank fields, which are currently awaiting government approval. Despite tensions over new drilling licenses, Sawan emphasizes the importance of homegrown resources amid a global oil shortage. Shell's share price has risen 19.1% since January, reflecting strong earnings in the first quarter.</p>

Reopen North Sea drilling to boost Britain, urges oil giant