Annual oil and gas licences planned with net zero commitment required

BBC News says Licences for oil and gas projects in the North Sea are set to be awarded annually, under government plans.

There is currently no fixed period between licensing rounds – but this would change under a bill to be announced in Tuesday’s King’s Speech.

Ministers said projects would have to meet net zero targets and claimed the policy would “bolster energy security”.

Greenpeace said encouraging oil and gas production was “backward-facing” and vowed to fight new licences in court.

The plans draw a dividing line between the Conservatives and Labour, which says it wants to focus on investing in renewables energy, rather than fossil fuels.

Labour has said it will honour existing licences granted before the next general election, but would not allow any new ones if it won power.

https://www.bbc.co.uk/news/uk-politics-67326497