By August Graham, PA Business Reporter & Lawrence Matheson The regulator of the UK’s oil and gas companies has raised a red flag, stating they need to act now to lower their emissions. It has warned that it might put a stop to developments if not enough steps are taken to reduce emmissions. Today, the North Sea Transition Authority announced its plan to focus on “the need for action across the board on production decarbonisation”. While it will work alongside oil and gas developers, failing to take necessary measures could lead to non-approval of applications. Despite recent drops, the product…