The UK government is working on legislation that would make annual oil and gas licensing rounds for the North Sea mandatory. Under the plans, a licensing round would take place if the country was set to import more oil and gas from abroad than it produces. Per Prime Minister Rishi Sunak, this would give the energy industry certainty during the transition to low-carbon energy, Reuters reports. "Domestic energy will play a crucial role in the transition to net zero," Sunak said, echoing earlier remarks that local production of oil and gas was a better…
