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LONDON: Britain launched its first oil and gas exploration licensing round since 2019 on Friday to try and boost domestic hydrocarbon output as Europe weans itself off Russian fuel, according to Reuters. The British North Sea, home to the global Brent benchmark grade, is an aging basin where oil and gas production has fallen from a 1999 peak of around 4.4 million barrels of
Norfolk could be set for a major role as the energy powerhouse of Britain - with exploration for gas off the county's coast potentially fast-tracked.
UK energy security will be significantly boosted with the launch of the 33rd oil and gas licensing round later today. The North Sea Transition Authority (NSTA) is inviting applications for licences to explore and potentially develop 898 blocks and part-blocks in the North Sea which may lead to over 100 licences being awarded.
The UK North Sea Transition Authority has launched the 33rd oil and gas licensing round and offered 898 blocks and part-blocks in the North Sea.
Greenpeace warns 'possibly unlawful' licensing round will do little to enhance the UK's energy security or reduce household energy bills