UK business and energy minister Kwasi Kwarteng
UK plans autumn licensing round
The country also aims to speed project development as it outlines new energy security strategy
The UK’s North Sea Transition Authority (NSTA) upstream regulator will launch another licensing round in the autumn—which will take into account the country’s forthcoming climate compatibility checkpoint for new oil and gas developments—as it puts continuing exploitation of domestic hydrocarbons resources as a central point of a new energy security strategy. “This will mean more domestic gas on the grid sooner,” the government says. And it is also looking at fast-tracking new production through the creation of gas and oil new project regulatory accelerators, which will aim to provide dedicated, named project support to facilitate more rapid development of new fields. These “could take years
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
