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UK Oil & Gas Investments ( (GB:UKOG) ) just unveiled an update.
UK Oil & Gas Plc has announced its full-year results for 2024, highlighting a strategic shift towards clean power and hydrogen storage. The company plans to focus on hydrogen storage and generation, with significant projects in South Dorset and East Yorkshire, aiming to support the UK’s clean power system and reduce reliance on natural gas. This transition is expected to enhance the company’s market positioning in the emerging hydrogen economy and contribute to the decarbonization of major CO2 emitting regions in the UK.
More about UK Oil & Gas Investments
UK Oil & Gas Plc (UKOG) is a pioneering energy developer transitioning from its traditional petroleum business in the UK and Turkey to focus on clean power. The company is leveraging its expertise in subsurface, engineering, and facilities to develop large-scale salt cavern hydrogen storage projects in South Dorset and East Yorkshire, aiming to support the UK’s transition to net zero by 2050.
Technical Sentiment Signal: Strong Sell
Current Market Cap: £1.69M
Learn more about UKOG stock on TipRanks’ Stock Analysis page.