The UK oil and gas industry hailed as “transformative” a new package of support agreed with government that is designed to help smooth its transition to lower-carbon sectors, but campaign groups condemned a failure to ban new licensing as “a colossal failure in climate leadership”.
Among the headline commitments in the long-awaited North Sea Transition Deal is a pledge by industry and government to invest jointly up to £16bn ($22bn) by 2030 to reduce emissions of climate harming carbon dioxide.
