Offshore Petroleum Licensing Bill: Energy Security at the Forefront of the Government’s Legislative Agenda

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On 7 November 2023, the Offshore Petroleum Licensing Bill (the Bill) was announced as part of King Charles III’s “King’s Speech”, outlining the UK Government’s legislative agenda for the upcoming UK parliamentary session. If enacted, the Bill would require the North Sea Transition Authority (NSTA) to hold annual licensing rounds for new oil and gas drilling projects.