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UK Government to allow oil and gas extraction near existing North Sea fields
New transitional energy certificates permit drilling near existing North Sea fields, but the government maintains a permanent ban on new exploration licences, limiting recoverable reserves to 25 million barrels.
- On Thursday, the UK Labour government announced Transitional Energy Certificates to allow limited oil and gas production tied to existing fields while confirming a permanent ban on new exploration licences.
- Industry lobbying in recent months and warnings about rejecting Rosebank and Jackdaw after a months-long consultation persuaded ministers to soften rules.
- The consultation response states Transitional Energy Certificates will cover seabed areas adjacent to licensed blocks, be managed 'out‑of‑round' by the North Sea Transition Authority, and be limited to known field volumes.
- Industry leaders warned the Energy Profits Levy stifles investment and jobs while the Government will create a North Sea Jobs Service as Robert Gordon University estimates about 1,000 jobs a month are lost.
- Labour's manifesto softened its 2024 pledge by allowing tie-backs while upholding the ban, with Scottish Greens condemning the backtrack and Greenpeace UK and campaigners praising the exploration halt.
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Britain eases opposition to new oil, gas permits, holds firm on taxes
Britain will allow some new oil and gas production on or near existing fields, the government said on Wednesday, easing its stance on new licences while dashing oil and gas producers' hopes for an early end to windfall taxes on their sector.
·United Kingdom
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UK Government to allow oil and gas extraction near existing North Sea fields
Energy Secretary Ed Miliband said it is a ‘world-leading’ plan The UK Government will allow extraction of oil and gas near existing fields as it looks to expand North Sea production without issuing new licences. Labour was adamant in the 2024 election campaign that new licences would not be issued for oil and gas extraction. But warnings from the industry over the implications of fields like Rosebank and Jackdaw being rejected and the knowledge …
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Total News Sources16
Leaning Left5Leaning Right0Center5Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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