The UK and Norway, two neighboring jurisdictions in the North Sea, have chosen starkly different paths to handle their oil and gas resources. The net-zero-obsessed UK is driving investors away with regulatory and tax uncertainty, while Norway – also aiming for net zero – backs further exploration and cashes in on the massive royalties. The result of the different approaches to the North Sea’s oil and gas has become glaringly evident this decade. The UK imports growing volumes of oil and gas as its mature fields are depleting and…
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