Exclusive-UK to announce dozens of new North Sea oil and gas licences -sources
LONDON (Reuters) – The British authorities is anticipated to announce dozens of latest North Sea oil and gasoline exploration licences in an effort to spice up home manufacturing, two sources aware of the federal government’s discussions stated.
The precise variety of new licences was nonetheless to be confirmed, one of many sources, who spoke on situation of anonymity, stated. The opposite stated it may very well be as many as 130. The announcement may come as quickly as Thursday.
Prime Minister Liz Truss, who was appointed on Tuesday, is because of got down to parliament on Thursday her authorities’s plans for tackling hovering vitality payments. In the course of the management marketing campaign, she repeatedly stated boosting home vitality provide can be a part of her focus in searching for to carry down costs.
Truss’s workplace didn’t instantly reply to a request for remark.
The licencing spherical is not going to provide any quick time period aid to vitality payments because it sometimes takes between 5 to 10 years from preliminary exploration till oil and gasoline is produced from a subject.
Britain’s final offshore licencing spherical was in 2020.
(Reporting by Ron Bousso and Sinead Cruise, further reporting by Elizabeth Piper, Writing by Kylie MacLellan, modifying by Deepa Babington)
