Court overturns licences for two big UK oil and gas projects

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The story "Court overturns licences for two big UK oil and gas projects" was covered 19 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 19h ago

Court overturns licences for two big UK oil and gas projects - Financial Times

Quick Summary:

The Department for Energy Security and Net Zero is preparing to issue guidance “as soon as possible” on how the environmental impact of oil and gas production should be considered in licence applications.

Production from the North Sea has declined in recent years, with investors complaining about costs including “windfall” taxes on their profits levied after energy prices spiked in 2022 with Russia’s full-scale invasion of Ukraine.

Lord Ericht in the Court of Session also ruled that Shell could not produce gas at the Jackdaw field unless a new licence was granted.