UK Oil & Gas has revealed that it has given up its licence to explore for hydrocarbons on the Isle of Wight.
Opponents of onshore oil and gas operations disrupted an industry agm in London this morning.
UK Oil & Gas (UKOG) has announced it will not appeal against the refusal of planning permission for exploration near the village of Arreton on the Isle of Wight.
The councillor responsible for environmental issues on the Isle of Wight has come out against plans to drill for oil, due to be decided tomorrow.
Officials back Isle of Wight oil drilling at Arreton – “economic benefits outweigh environmental harm”
Proposals to explore for oil on farmland on the Isle of Wight have been supported by council planners despite potential environmental harm.
Councillors on the Isle of Wight will decide later this month whether to give the go-ahead for oil exploration at Arreton.
Oil exploration plans on the Isle of Wight would “make the best use” of mineral resources in the transition to a low carbon future, the company behind the proposals has said. But local campaigners have disputed the arguments and said they should be rejected.
An UK Oil & Gas share offer has raised just a tenth of the target funds, the company has reported.
Two cyclists have begun a 1,000 mile ride to Spain in a campaign to stop oil extraction at Horse Hill in Surrey.
UK Oil & Gas plc has reported an operating loss of £1.02m for the six months to the end of March 2021.