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Market Chatter: UK Said to Delay Approval for Jackdaw Gas Project

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UK Prime Minister Andy Burnham plans to delay the approval for the Jackdaw gas field project in the North Sea until October, The Telegraph reported Friday, citing sources.

The project, which is owned and operated by Adura, a 50/50 joint venture between Equinor (EQNR.OL) and Shell (SHEL.L, SHELL.AS), was expected to be approved within days, the paper said. The approval is now expected after an Oct. 8 by-election for the parliamentary seat vacated by former Prime Minister Keir Starmer.

The by-election is expected to be a close fight between Burnham's Labour and the Green Party, according to the report.

Adura did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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