![]() The government has followed by mandating annual rounds – a return to the pre-Covid frequency. ![]() What was previously a technocratic procedure, managed by a little-known regulator and largely insulated from the cut-and-thrust of politics, is now hotly debated.įor the first time since 2019, a new licensing round was launched last year during Liz Truss’s short-lived premiership and the first licences have just been offered. The topic of North Sea oil and gas licensing has shot up the UK’s political agenda as all three elements of the “energy trilemma” – sustainability, affordability, and security of supply – have taken centre stage. Prime Minister Rishi Sunak has promised to “max out” North Sea reserves – but the plan fails on economic, energy security, and climate grounds
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