Oil and Gas Projects Could Be Blocked Unless They Cut Emissions: Regulator

Published on March 27, 2024

The UK’s oil and gas companies need to take action to decarbonise production and deliver emission savings or risk being blocked, an independent regulator has warned. A new plan by the North Sea Transition Authority (NSTA) has laid out requirements for developers to slash their carbon footprints. This will ensure the “future of the industry” and the achievement of net zero targets, said the regulator. The NSTA assesses applications for exploring oil and gas fields and last month it approved 24 new licenses for oil and gas exploration in the North Sea. However, for production to continue in the North Sea, the NSTA said, it must become cleaner....

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