UK Prime Minister Rishi Sunak has announced that the government will issue hundreds of new North Sea oil and gas licences to boost British energy independence and grow the economy.
The Government had already committed to deploy CCUS, or carbon capture usage and storage clusters, in two industrial clusters by the mid-2020s - the HyNet cluster in North West England and North Wales, and the East Coast Cluster in the Teesside and Humber - and another two clusters by 2030.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.