The UK Government has unveiled plans to mandate annual renewal for oil and gas licensing in the North Sea, emphasising the need for energy security and job protection within the £16 billion industry.
Prime Minister Rishi Sunak emphasised the significance of domestic energy in the transition to net zero, saying, “Domestic energy will play a crucial role in the transition to net zero, supporting jobs and economic growth, while also protecting us from the volatility of international markets and diversifying our energy sources.”
