• Latest
  • Trending
  • All
  • Market Updates
  • Cryptocurrency
  • Blockchain
  • Investing
  • Commodities
  • Personal Finance
  • Technology
  • Business
  • Real Estate
  • Finance
New bid to quash North Sea licences is latest test for Labour energy policy

New bid to quash North Sea licences is latest test for Labour energy policy

March 26, 2025
Fund firms court ‘bored’ investors with flurry of exotic ETF launches

Fund firms court ‘bored’ investors with flurry of exotic ETF launches

June 6, 2025
Anthropic releases new “hybrid reasoning” AI model

Anthropic launches Claude Gov for military and intelligence use

June 6, 2025
How widespread — and worrisome — is the BNPL phenomenon?

How widespread — and worrisome — is the BNPL phenomenon?

June 6, 2025
The case for a Fed rate cut

The case for a Fed rate cut

June 6, 2025
CRWD, TSLA, DLTR, THO and more

CRWD, TSLA, DLTR, THO and more

June 6, 2025
TotalEnergies promotion of natural gas under fire in greenwashing trial

TotalEnergies promotion of natural gas under fire in greenwashing trial

June 6, 2025
NFP set to show US labor market cooled in May

NFP set to show US labor market cooled in May

June 6, 2025
Man Group orders quants back to office five days a week

Man Group orders quants back to office five days a week

June 6, 2025
PBOC surprises markets with mid-month liquidity injection

PBOC surprises markets with mid-month liquidity injection

June 6, 2025
Russia’s War On Illegal Mining Heats Up With Bitcoin Seizures

Russia’s War On Illegal Mining Heats Up With Bitcoin Seizures

June 6, 2025
Average 401(k) balances fall due to market volatility, Fidelity says

Average 401(k) balances fall due to market volatility, Fidelity says

June 6, 2025
Donald Trump and Elon Musk’s feud erupts over tax bill

Donald Trump and Elon Musk’s feud erupts over tax bill

June 6, 2025
Friday, June 6, 2025
No Result
View All Result
InvestorNewsToday.com
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech
InvestorNewsToday.com
No Result
View All Result
Home Commodities

New bid to quash North Sea licences is latest test for Labour energy policy

by Investor News Today
March 26, 2025
in Commodities
0
New bid to quash North Sea licences is latest test for Labour energy policy
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Keep knowledgeable with free updates

Merely signal as much as the UK vitality myFT Digest — delivered on to your inbox.

The UK authorities faces a recent bid by environmentalists to quash North Sea oil and gasoline licences on Wednesday, the newest take a look at of Labour’s makes an attempt to steadiness internet zero objectives and enterprise complaints about regulation.

Marketing campaign group Oceana will on the Excessive Court docket problem the method by which licences had been granted final Might to permit firms, together with TotalEnergies, Ineos and Perenco, to probe for oil and gasoline.

The selections had been made beneath the earlier Conservative authorities, however Labour, which swept to energy in July, is defending the licences.

The federal government is consulting on the way forward for North Sea energy, together with on the way to ship Labour’s manifesto commitments to not situation licences to discover new fields whereas not revoking present licences.

Hugo Tagholm, govt director of Oceana, mentioned he hoped the case would assist push Sir Keir Starmer’s Labour authorities to drop its assist for present licences.

Oceana is arguing that the federal government’s approval of oil and gasoline exploration threat assessments that underpinned final 12 months’s spherical of licensing within the North Sea was illegal, as these didn’t absolutely take into account the potential climate and environmental impression on marine protected areas.

Hugo Tagholm holds a sign that says “Save our seas”
Hugo Tagholm of marketing campaign group Oceana says preventing the impression of local weather change shouldn’t be seen as ‘a part of a tradition battle’ © Anthony Upton/PA

Shielding marine environments from oil spills and from the ocean warming and acidification that go hand in hand with local weather change shouldn’t be seen as “a part of a tradition battle” or “inexperienced versus development”, Tagholm mentioned.

He added: “That is defending nature to guard future prosperity, future trade.”

The case centres on 31 licences issued by the North Sea Transition Authority (NSTA) final Might the place the extraction might have an effect on marine protected areas. An evaluation for every licence was carried out by the Offshore Petroleum Regulator for Setting and Decommissioning (OPRED).

Oceana’s declare builds on a Supreme Court decision final June in a case often called Finch, which mentioned regulators should take into account how burning oil and gasoline might speed up local weather change once they draw up environmental impression assessments for drilling websites.

The marketing campaign group argues that the Finch normal must also apply to assessments which might be drawn up earlier than licences are awarded within the UK’s marine protected areas.

Oceana alleges the Division for Vitality Safety and Web Zero (Desnz) failed to completely take into account recommendation from the statutory skilled it’s meant to seek the advice of when making ready assessments.

A letter by the Joint Nature Conservation Committee, despatched final Might and seen by the Monetary Occasions, warned that it couldn’t rule out the chance that exploration would hurt the marine surroundings, together with as a result of burning the oil and gasoline would contribute to local weather change.

Really useful

Blue gas flames encircle a wind turbine and two solar panels and all of this sits within a larger flame

Desnz and NSTA mentioned they may not touch upon ongoing authorized proceedings. An individual near NSTA mentioned licences had been solely awarded as soon as OPRED had evaluated “any potential opposed results” on protected areas. 

Perenco mentioned: “As a accountable operator, we adjust to all related environmental laws.” Ineos and TotalEnergies didn’t reply to requests for remark. 

Labour’s stance within the Oceana case contrasts with its determination final 12 months to not problem a bid by environmental teams to dam the event of the Rosebank and Jackdaw oilfields within the North Sea.

Scotland’s high civil court docket ruled earlier this year that consent for the tasks had been granted unlawfully beneath the Tories.

Starmer, who has in current months more and more sought to current his authorities as pro-business, has signalled Labour will in all probability give approval once more in response to new functions for these fields.



Source link

Tags: bidEnergylabourLatestlicencesNorthPolicyquashSeatest
Share196Tweet123
Previous Post

Institutional ETF users fuel corporate bond volatility, IMF warns

Next Post

Young Americans Are Increasingly Moving to Rural Markets

Investor News Today

Investor News Today

Next Post
Young Americans Are Increasingly Moving to Rural Markets

Young Americans Are Increasingly Moving to Rural Markets

  • Trending
  • Comments
  • Latest
Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

February 5, 2025
Best High-Yield Savings Accounts & Rates for January 2025

Best High-Yield Savings Accounts & Rates for January 2025

January 3, 2025
Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

January 5, 2025
10 Best Ways To Get Free $10 in PayPal Money Instantly

10 Best Ways To Get Free $10 in PayPal Money Instantly

December 8, 2024
Why America’s economy is soaring ahead of its rivals

Why America’s economy is soaring ahead of its rivals

0
Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

0
Nato chief Mark Rutte’s warning to Trump

Nato chief Mark Rutte’s warning to Trump

0
Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

0
Fund firms court ‘bored’ investors with flurry of exotic ETF launches

Fund firms court ‘bored’ investors with flurry of exotic ETF launches

June 6, 2025
Anthropic releases new “hybrid reasoning” AI model

Anthropic launches Claude Gov for military and intelligence use

June 6, 2025
How widespread — and worrisome — is the BNPL phenomenon?

How widespread — and worrisome — is the BNPL phenomenon?

June 6, 2025
The case for a Fed rate cut

The case for a Fed rate cut

June 6, 2025

Live Prices

© 2024 Investor News Today

No Result
View All Result
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech

© 2024 Investor News Today