Overview

• The UK Labour government has confirmed it will not issue new North Sea oil and gas licences, fulfilling a key manifesto pledge.
• GB Energy, a publicly-owned clean energy company backed by £8.3 billion, is being established in Aberdeen to decarbonize the UK's electricity grid by 2030.
• GMB Union leader Gary Smith condemned the policy as a 'betrayal,' citing concerns over job losses, energy import dependency, and environmental impacts from increased reliance on foreign fossil fuels.
• The government defends its strategy, highlighting investments in offshore wind, carbon capture, and hydrogen to create jobs and transition North Sea workers to renewables.
• Industry groups warn the UK could rely on imports for 80% of its oil and gas within a decade if no new fields are developed, raising energy security concerns.