{"id":1773,"date":"2022-10-03T19:46:26","date_gmt":"2022-10-03T19:46:26","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=1773"},"modified":"2022-10-03T19:46:28","modified_gmt":"2022-10-03T19:46:28","slug":"uks-new-oil-and-gas-exploration-licenses-unlikely-to-boost-supply-for-years","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/1773\/","title":{"rendered":"UK\u2019s New Oil and Gas Exploration Licenses Unlikely to Boost Supply for Years"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>The UK will soon offer new licenses to explore areas of its seabed for oil and gas, but even if the drilling is successful it probably won\u2019t boost supplies for at least a decade.&nbsp;<\/p>\n\n\n\n<p>It\u2019s an unhelpful timeline for British Prime Minister Liz Truss, whose plan to tackle the winter energy crisis relies largely on boosting supplies, in contrast to the European Union\u2019s moves to cut demand. She has vowed to deliver more than 100 new licenses in a process that could open in the coming days, according to industry lobby Offshore Energies UK.<\/p>\n\n\n\n<p>Yet UK licensing rounds are the first of many steps in the development of new oil and gas fields.&nbsp;<\/p>\n\n\n\n<p>\u201cIn terms of finding new volumes, you\u2019re probably looking toward a decade before we\u2019d see any meaningful impact,\u201d said Neivan Boroujerdi, analyst at Wood Mackenzie. \u201cEven that\u2019s likely to be minimal.\u201d<\/p>\n\n\n\n<p>It\u2019s been three years since the launch of the last round, and that process hasn\u2019t yet delivered a commitment to drill wells. The most recent leasing round that resulted in any commercial volumes of oil and gas took place in 2012. That has done little to slow the gradual decline of fossil fuels coming out of the North Sea.&nbsp;<\/p>\n\n\n\n<p>\u201cAny increases in UK extraction of oil and gas would have, at most, a marginal effect on the prices faced by UK consumers in future,\u201d John Selwyn Gummer, chairman of the country\u2019s Climate Change Committee, said in a\u00a0letter\u00a0earlier this year to then-Business Secretary Kwasi Kwarteng. \u201cAn end to UK exploration would send a clear signal to investors and consumers that the UK is committed to the 1.5\u00b0C global temperature goal.\u201d<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2022-10-03T19:46:28+00:00\"> 3 October 2022<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"The UK will soon offer new licenses to explore areas of its seabed for oil and gas, but even if the drilling is successful it probably won\u2019t boost supplies for at least a decade.&nbsp; It\u2019s an unhelpful timeline for British Prime Minister Liz Truss, whose plan to tackle the winter energy crisis relies largely on [&hellip;]","protected":false},"author":1,"featured_media":1774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,20,36,19],"tags":[],"services":[],"class_list":["post-1773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-gas","category-lastnews","category-news"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/1773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=1773"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/1773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/1774"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=1773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=1773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=1773"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=1773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}