UKCS licensing set to continue
The country’s North Sea Transition Deal will apply new conditions to future drilling permits but allow oil and gas activity to proceed
The London government plans to introduce a new climate compatibility checkpoint before any future UK continental shelf (UKCS) oil and gas licensing rounds “to ensure licences awarded are aligned with wider climate objectives, including net-zero emissions by 2050”, as part of its North Sea Transition Deal announced on Wednesday. The checkpoint “will use the latest evidence, looking at domestic demand for oil and gas, the sector’s projected production levels, the increasing prevalence of clean technologies such as offshore wind and carbon capture, and the sector’s continued progress against its ambitious emissions reduction targets”. But, crucially, E&P will continue. “As long as oil

Also in this section
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
27 June 2025
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU