Irish exploration company, United Oil and Gas, is considering applying for further UK licences, as part of that country’s latest North Sea licensing round.

The UK's Environment Secretary Owen Paterson has urged the country to wake up to the “massive” potential advantages of fracking and accused opponents of the technique of scaremongering.

BP sold assets in the North Sea today in a £251.7m deal but insisted it is still committed to developing around the UK.

Oil giant BP today revealed plans to sell several assets in the UK, including the biggest onshore oil field in Western Europe.