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
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.