IGas saw revenue drop by nearly half last year following production cuts and a falling oil price during the Covid-19 pandemic.
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Annual UK onshore oil production has fallen to its lowest level since 2011.
Egdon Resources reported a £4.75m loss today, along with falling production and revenues.
The number of onshore oil and gas wells drilled in the UK in 2020 fell to a 70-year low.
2020 was a frack free year in the UK because the shale gas industry failed to persuade ministers to lift blocks on the process.
More than a third of people oppose fracking for shale gas while just under a quarter support it, according to the latest data from a government survey released this morning.
Renewables help Scotland head industrial nations in fall in greenhouse gas emissions – but future cuts will be “hard won”
The growth of low carbon electricity generation resulted in a drop in Scottish greenhouse gas emissions by almost a third in the decade to 2018, a new report revealed today.
IGas blamed the Covid-19 outbreak and a low oil price for falls in production and revenue, along with a rise in debt, in the first half of the year.
Climate change activists walked in front of a tanker this morning due to collect from UKOG’s Horse Hill oil production site in Surrey.