Britain has cut rental fees by up to 90 percent in its latest tender for oil and gas licenses in the North Sea launched on Wednesday in a bid to attract companies to find new fields in the mature basin. Companies will now be able to apply for cheaper and more flexible licenses to gain access to 1,261 blocks by Oct. 26, followed by license awards to be issued by the Oil and Gas Authority (OGA) at a later date. The hunt for new oil and gas fields in the British part of the North Sea is expected to fall to the lowest in 45 years this year as energy companies have scaled back exploration budgets due to weak oil […]