04:31 AM EDT, 10/21/2026 (MT Newswires) -- The UK's energy secretary cleared the production of gas at the licensed Jackdaw field in the North Sea, enabling supply to British homes and businesses from as early as the end of October, according to a Wednesday release. Adura, a 50-50 joint venture between Norwegian energy company Equinor (EQNR.OL) and British oil major Shell (SHEL.L, SHELL.AS), is the operator of the project, which is expected to raise domestic gas production by 6% at its peak. Separately, the British government will launch a new Energy Wealth Fund, with an initial investment of 2 billion pounds sterling. Over time, tax revenues from North Sea oil and gas will also flow into the fund for investment in renewable and low-carbon energy projects.

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