Overview
- Offshore Energies UK urged ministers to revisit the freeze on new North Sea exploration after crude prices jumped by more than 30% following disruption to the Strait of Hormuz.
- The government says new licences would not cut household bills because oil and gas are sold at global prices, and it points to a faster shift to renewables and nuclear as the durable fix.
- Opposition leader Kemi Badenoch pressed Keir Starmer to approve the Rosebank and Jackdaw fields, though courts blocked those projects last year and ministers also face a high windfall tax that has cooled investment.
- Octopus Energy boss Greg Jackson backed using remaining North Sea reserves but argued it would not lower costs or improve security because UK supply is priced on international markets and remaining reserves are limited to about 2.9 billion barrels of oil equivalent.
- Researchers cited in the coverage say boosting offshore output would yield smaller savings than speeding up clean power, while right-leaning outlets emphasize calls to drill and cut taxes and others foreground expert warnings that Britain is a price taker.