Energy
“The new government will need to decide whether or not to cancel the process, which could end up granting a small number of new North Sea licences in breach of its pledge to end new oil and gas exploration.
But cancelling the mechanism, which is run by the industry regulator, the North Sea Transition Authority (NSTA), could leave the new government vulnerable to a volley of legal actions from the companies, which may have spent millions preparing their bids.
The government is expected to take legal advice on how to implement its North Sea policy, without risking a legal challenge from oil and gas companies, before taking a final decision on the live licensing round.