The decision comes despite calls from environmental campaigners and the United Nations to halt the development of new fossil fuel projects.

This move emphasizes the region's role in the UK's broader energy security plans and accompanies the confirmation of 100 new North Sea oil and gas licenses.

The plastic pyrolysis oil, known as plastic waste derived oil, underwent processing at the SATORP refinery in Jubail, Saudi Arabia, which is jointly owned by Aramco and TotalEnergies.

erry's comments come in response to recent statements by Shell's CEO, who emphasized the need for future oil investments.

During a session in the House of Commons, Energy Secretary Grant Shapps expressed strong opposition to the idea of not issuing new oil and gas licences, labeling it as a "bonkers policy."

In a bid to reach net-zero greenhouse gas emissions by 2050, UK’s regulator North Sea Transition Authority (NSTA) has awarded two carbon storage (CS) licences in the Southern North Sea to energy giants BP and Equinor. These licences, which could store up to 23 million tonnes pa (Mtpa) of CO2 by 2038, bring the total number of CS licences on the UK Continental Shelf (UKCS) to six.