UK has announced the possibility to review its policy regarding future offshore oil and gas licensing regime. This would be part of a plan which aims to achieve net zero emissions within 2050.
Deirdre Michie Chief executive of industry body Oil & Gas UK said, “We now need a constructive and open conversation about how our oil and gas producing country can transition fairly to a lower carbon future. Working with governments, regulators and through sensible debate, we can protect jobs and affordability while being ultimately accountable for the emissions associated with the oil and gas we use.”