UK Schedules First Oil, Gas Licensing Round In 2 Years

The UK’s Oil and Gas Authority, the industry watchdog, plans to hold an oil and gas licensing round for the North Sea this year, the Financial Times has reported, noting it would be the first licensing round since 2020. The news comes weeks after reports that the UK government was considering a ban on new drilling permits in the North Sea.

Discussions reportedly involved an immediate pause on licensing and a ban on all permits from 2040. In this context, the decision to launch a new licensing round is bound to spark controversy amid the UK’s…