Norway's authorities have decided not to hold the 26th oil licensing round for the right to develop the country's continental shelf during the current parliamentary term, which ends in 2025, Norwegian public broadcaster NRK reported on Tuesday
MURMANSK (Pakistan Point News / Sputnik - 29th November, 2022) Norway's authorities have decided not to hold the 26th oil licensing round for the right to develop the country's continental shelf during the current parliamentary term, which ends in 2025, Norwegian public broadcaster NRK reported on Tuesday.
The decision not to hold the next round was reached by the government and the opposition in the course of negotiations on the draft budget, the report said.
In mid-October, the new Norwegian cabinet's political program revealed that the government intended to maintain the practice of issuing licenses for oil exploration and development of the Norwegian continental shelf. At the same time, the new cabinet aimed to cooperate with industry representatives to reduce harmful emissions associated with shelf development by 50% by 2030.
The Socialist Left Party has criticized this decision, calling for a reduction in development of the Norwegian shelf.
