Norway has started to plan its 26th oil and gas licensing round in little explored frontier areas as it looks to boost exploration and resources to stem an expected decline in production from the early 2030s.
John Browne, the former head of BP, has seemingly backed a Labour Party pledge to end North Sea oil and gas exploration.
The industry heavyweight, who joined the energy giant as an apprentice in the 1960s, said that plans for the North Sea and the “energy transition” would be important issues at the next election.