The British Government has given Energy Companies the green light to develop one of the largest untapped Oil And Gas Fields in uk waters. Rosebank lies in the north sea, about 80 miles west of shetland. Experts say it contains up to 350 Million Barrels of oil. Production could start in 2026, with extraction continuing until at least 2030. Its thought that around 69,000 barrels of oil could be produced every day. That would equate to about 8 of the uks total output. And there would also be natural gas, with about 44 million cubic feet produced per day during the projects lifetime. The Energy SecretaryClare Coutinho said. But there has already been criticism. The Environmental Group greenpeace says. And it described the decision to give the go ahead to the Rosebank Oil Field as reckless. Our Business CorrespondentPeter Ruddick explained how the decision was reached. Well, it would have been a controversial decision given the cost and environmental impacts at any time but i think at the moment given the questions surrounding the uk governments commitment to its own net zero targets, then of course this decision becomes even more controversial. Important to say although the government has backed this new oil field, that todays decision has come from the north sea transition authority, essentially oil and gas regulators. Now, they say they have taken into account net zero considerations throughout the projects life cycle, not stopping, as you say, the environmental reaction from this, Greenpeace Uk essentially saying rishi sunak, the uk Prime Minister, putting the profits of Oil Companies above everyday people. As you say, rosebank located about 80 miles off shetland. Ithaca energy and equinor, the companies behind the project, have previously said that if production started in 2026, rosebank could account for about 8 of the uks total Oil Production between then and 2030. And that stat is crucial. The governments Energy Secretary today backing the decision said, look, this oilfield has been subject to extensive scrutiny and environmental impact. But of course this is going to be crucial if the uk government is going to be able to be Energy Independent and that is where this decision is so important. Who stands to profit from this . Which companies are set to go in, and which portion of the uk government is set to derive the tax proceeds from this . Will any profits be going to scotland specifically . Or will they be located to westminster . So, Ithaca Energy and equinor are the companies behind the project, they are the ones making the significant investment and they would obviously be gaining the profits from this. Important to say obviously there are Windfall Taxes in place at the moment on north sea oil and gas production, and there has been a reaction from the local chamber of commerce. They say, look, rosebank will make an important contribution to the uk economy, to energy security, as well as creating hundreds of jobs. So theres lots of these considerations that are being taken into account when a decision like this is being made obviously. Live now to jess ralston, head of energy at energy and climate intelligence unit, which is a nonprofit analysis group. What do you make of the government decision to grant the licenses the rosebank to develop . I decision to grant the licenses the rosebank to develop . Decision to grant the licenses the rosebank to develop . I think on a few different rosebank to develop . I think on a few different grounds rosebank to develop . I think on a few different grounds this rosebank to develop . I think on a | few different grounds this decision does not make any sense and the key one is around our energy security. The oil and gas that we get out of rosebank, it will be mostly oil, because that is mostly what is left in the north sea, that will not be owned by the British Public or the government, it will be owned by the company that gets it out the ground and they will simply sell it on International Markets to the highest bidder. So there is no guarantee that oil and gas will end up in the uk and therefore there is no guarantee it will help to lower our bills and therefore there are going to be a lot of people colder and poorer this winter wondering why we are handing tax rates on subsidies up are handing tax rates on subsidies up to oil and Gas Companies when they cannot lower their bills. Mb . They cannot lower their bills. Why would the uk they cannot lower their bills. Why would the uk government go ahead with the decision when it presumably will face political and legal opposition . Will face political and legal opposition . Will face political and legal opposition . Will face political and legal ouosition . ,. ,. , opposition . Exactly, it goes against all the experts opposition . Exactly, it goes against all the experts advice opposition . Exactly, it goes against all the experts advice on opposition . Exactly, it goes against all the experts advice on this all the experts advice on this matter, so the International Energy agency, the uks own Climate Change committee and the un have all said there should be no renewal Oil And Gas Fields approved if we are going to reach net to zero and stop the most harmful effects of Climate Change. It does not make any sense on an International Expert grant either and when the uk is going to cop in november, december, it cannot have the same credibility approving these Oil And Gas Fields. Lanthem have the same credibility approving these Oil And Gas Fields. These Oil And Gas Fields. When it has already these Oil And Gas Fields. When it has already changed these Oil And Gas Fields. When it has already changed some these Oil And Gas Fields. When it has already changed some of. These Oil And Gas Fields. When it has already changed some of itsj has already changed some of its green pledges, how will it affect the uks standing on the global stage . The uks standing on the global stale . ,. , the uks standing on the global stale . ,. ~ stage . The speech last week where the Prime Minister stage . The speech last week where the Prime Minister rolled stage . The speech last week where the Prime Minister rolled back stage . The speech last week where the Prime Minister rolled back on. Stage . The speech last week where the Prime Minister rolled back on a | the Prime Minister rolled back on a series of net zero policies, plus there approval of rosebank, plus at there approval of rosebank, plus at the weekend the news he will be scrapping the Energy Efficiency task force which was trying to help the government improve its Energy Efficiency across the whole economy, all of these things point to the Prime Minister not really having a handle on green commitments and are certainly not being that sort of ambitious nation that we said we wanted to be. What he is saying and doing are not really adding up at the moment and that does not help with Green Investment which we are trying to secure in the uk, competition with the us and the eu, it does not help to reduce our Carbon Emissions in line with net zero and it does not help with the Cost Of Living which is plaguing so many people. Cost of living which is plaguing so many peeple Cost Of Living which is plaguing so many people. Cost of living which is plaguing so man eole. ,. ,. , many people. What would you say to those in the many people. What would you say to those in the government many people. What would you say to those in the government who many people. What would you say to those in the government who say many people. What would you say to | those in the government who say this will reduce our Energy Reliance from hostile states, it will improve the uks Energy Independence, isnt that important, particularly in the wake of the russian invasion of ukraine . Saying that rosebank will improve our Energy Independence is incorrect because there is no security it will end up in the uk, they will sell it to who will pay the most, so no guarantee it will help us here. The north sea is in terminal decline, the oil and gas in the north sea is running out, that is a simple fax no matter what your policy is on it, so unless we start to introduce measures to reduce our reliance on gas, things like heat pumps, moving away from gas boilers, producing more energy from renewables to get away from gas generation, unless we do those things we willjust end up importing more oil and gas from abroad because we do not have it left in the north sea. {lilia abroad because we do not have it left in the north sea. Left in the north sea. 0k, thank ou. One other news line to bring you about the uk energy industry, and taxes paid to the government have risen substantially in part due to the windfall tax. In the year to march 2023, the taxes rose by £7. 6 billion, to stand at £9 billion. That compares to a total of eu; billion in the year to march 2022. A third of the rise, £2. 6 billion, is down to the Energy Profits levy, also known as the windfall tax. The rest was down to the normal taxes paid by companies as their revenues went up. Its the highest overall figure for oil and gas tax revenues for a decade. But its worth bearing in mind that the windfall tax was forecast to raise £5 billion in the first year, so the eventual figure was only just over half of that, with analysts saying that falls in Energy Prices across the summer kept the figure lower. Investigators in Northern Iraq are trying to establish the exact cause of a fire at a Wedding Party that, according to a security source, has killed at least 115 people and injured another 200. People were celebrating in al hamdaniya when fire tore through the venue late on tuesday evening. Pictures from the Scene Show Emergency Crews picking through the charred remains of the building. Civil defence officials said initial findings suggested fireworks were lit during the celebration inside a hall attended by up to 1,000 people. 0ur correspondent lina sinjab has been following the story from beirut. Well, it was a night of celebration that turned into a catastrophe, into a nightmare. The numbers are changing by the hour. Now the red cross is saying that there are casualties of almost a50 people, while officials confirmed at least 100 dead. Were not sure about the fate of the bride and groom yet. We have heard from people including officials and Civil Defence report that fireworks were used inside the hall that caused the start of the blaze and also there were some flammable, physically flammable panels, the help of the spread of the fire and caused the damage of part of the ceilings. People rushed throughout for their lives but were suffocated because of lack of oxygen and many were burnt alive. This is not a rare incident in iraq, that is known for corruption, mismanagement and lack of accountability and efficiency. There were reports of violation of Construction Rules and Safety Measures in the past that caused in many cases a loss of life. Lina, it seems shocking to hear that fireworks were used inside a hall. And also that this isnt a rare occurrence. Can you tell us more about that situation . This is exactly shocking. You cant even tolerate to think about how people thought about using it inside a wedding hall. But there are, you know, some traditions that they do without thinking or taking into consideration the Safety Measures. And apparently the construction, the style that was used inside the wedding hall helped the spread of the fire, u nfortu nately. But to start with there was terribly irresponsible action of using fireworks. The uks first Consumption Room for Illegal Drugs has been approved by officials in glasgow. The facility is backed by the Scottish Government as a way to tackle the countrys drugs deaths crisis. The pilot scheme will be based at a Health Centre in the east end of glasgow. It will see users take their own drugs under the supervision of Trained Health professionals. A new york court has ruled that donald trump committed fraud by repeatedly overstating the value of his business assets. The judge said the former president exaggerated his wealth, sometimes by billions of dollars, to get cheaper loans and insurance. He cancelled some of the licences that allow mr trumps businesses to operate in new york. In a statement, mr trump denounced thejudge as deranged and the states Attorney General as corrupt. 0ur North America correspondent peter bowes reports. Another legal blow for the former president. In a civil lawsuit, he and his two sons, along with the trump organisation, have been accused of staggering levels of fraud. 0ne claim is that mr trump inflated the value of his properties hotels, golf clubs and Apartment Buildings and exaggerated the size of his luxury flat in trump tower. The case is due to go to trial next week, but the judge has already ruled on part of it, and determined that the former president repeatedly lied about his financial affairs. In a post on his Social Media Platform Truth social, donald trump called the judge deranged and said the claim he committed fraud was both ridiculous and untrue. It was, he said, another attempt by his opponents to try to prevent him from winning the next president ial election. The new york ruling means some of the trump organisations licences to operate will be cancelled. The civil case is in addition to the four major Criminal Trials donald trump is facing. While some Opinion Polls now show him edging in front ofjoe biden in the race to regain the white house. More than 40,000 Ethnic Armenians have fled Nagorno Karabakh that is about a quarter of the population of the enclave seized by azerbaijan last week. Azerbaijan says people in the area will be safe, but armenias Prime Minister says that Ethnic Cleansing is taking place. Sarah rainsford is in goris in armenia and sent this update. Well, the flow of refugees from Nagorno Karabakh is not only continuing, its increasing and intensifying. You can see behind me here, just one car, but theres streets full of cars like this piled up with peoples possessions, roof racks piled high, boots jammed full, and the cars themselves full of families. Weve seen seven or eight people squeezed into some cars. We even saw a dumper truck yesterday with children on board, a couple of dozen Children Peering over the top of that truck, because people are using any transport and any means they can to leave Nagorno Karabakh and come here to armenia. Because what theyre telling me, when they get here, is that they dont feel safe to stay in that enclave, now. They have been told by the azerbaijani authorities that they would be protected, that their human rights are guaranteed. But nobody ive spoken to believes that information. They cant trust that there have been so many wars between armenia and azerbaijan and in Nagorno Karabakh specifically, that the people who have lived there for decades, now say they have to leave. And there have been a lot of tears its a really depressed mood as people flood over into armenia. These are people who dont believe theyre ever going back to Nagorno Karabakh. And a lot of them have said its kind of like its an exodus. You know, its not a temporary evacuation they dont believe theyll see their homes again. And that means a huge amount, pe