UK Oil Industry on Edge as Labour Wins Election in a Landslide

The Labour Party won the UK election in a landslide, as Britons overwhelmingly voted on Thursday to end 14 years of Conservative rule. Exit polls and the first official results showed early on Friday that the Labour Party won more than 400 seats in Parliament, while the Tories lost more than 200 seats and slumped to about 120, the worst election showing since World War II.

On the eve of the election, David Whitehouse, CEO of the leading trade body Offshore Energies UK OEUK, said “The incoming government must listen to energy industry concerns about the UK’s fiscal regime and licenses for domestic oil and gas production if it is to deliver a successful energy transition.” “Details matter.

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