The Australian owner of the shale gas company, Cuadrilla, spent $1.107m in the UK in 2021 (about £655,000 at current rates), even though its licences were “on hold” because of the fracking moratorium.
Annual UK onshore oil production has fallen again, continuing a downward trend in 2021 that began in the 1990s.
New research, published within days of the start of Cop26 climate talks, reveals that 40 oil, gas and coal projects have been submitted for approval in the UK.
IGas has announced redundancies, including the chief finance officer, in a £1m cost-cutting programme.
Losses in IGas more than doubled in 2019 to more than £50m as the company turned its back on shale exploration in north west England, annual accounts have revealed.
The shale gas company, Cuadrilla, has recorded an annual profit for the first time following a multi-million dollar payment from partner, Centrica.
DRILL OR DROP? 