UK Labour Government Would Add Risk to Oil Project, Equinor Says

Norwegian oil giant Equinor ASA will have to weigh plans to develop the Rosebank oil field if the UK’s Labour Party wins the next election and decides to change the North Sea’s tax framework.

“We will have to look at these types of proposals and see what it means to our future business and then make the necessary decisions,” Chief Executive Officer Anders Opedal said in a Bloomberg TV interview Thursday. “All these kinds of changes, and proposed changes, create an additional risk that we need to bring into our risk management.”

Located west of Scotland’s Shetland Islands, Rosebank is ...