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UK to Announce Annual North Sea Oil, Gas Licensing Rounds

OIL

The UK will announce this week to mandate annual North Sea oil and gas licensing rounds, which would require the North Sea Transition Authority regulator to invite applications to drill for fossil fuels in the region each year, a statement by the Prime Ministers’ office said.

  • The plans are to be set out in the King’s Speech on Tuesday.
  • The NSTA last month issued 27 new licenses.

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