Rishi confirms hundreds of new oil and gas licenses will be granted in the UK

The Metro says Hundreds of new oil and gas licences in the North Sea have been granted by the government in a boost to carbon capture funding.

Rishi Sunak made the announcement ahead of his visit to Aberdeenshire later today.

He also announced millions of pounds in funding for the Acorn carbon capture project, and said ‘it’s vital that we bolster our energy security.’

The Government committed to providing up to £20 billion of funding for early deployment of carbon capture, utilisation and storage (CCUS), with the Acorn project now receiving support, along with the Viking project in the Humber.

They become the third and fourth such projects to be backed by the government.