Explained in plain English

Who owns North Sea oil?

The UK government owns the rights to oil and gas reserves within its territorial waters, including a significant portion of the North Sea. Companies apply for licences to explore and extract these resources, paying taxes and royalties on their profits. Any decision to open new areas for drilling would be a government policy choice.

Stories that explain this

Trump says Burnham will open North Sea to oil drilling Trump says new PM Andy Burnham will end UK 'poverty disaster'

Questions this opens up

What are oil licences? Who profits most? What are royalties?

Related explainers

What is North Sea oil? Is the North Sea running out? What are exploration licences? Why does Trump care? Why would the UK drill more? Why drill for North Sea oil? Why is North Sea gas drying up? Who owns the sea?

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