UK Oil & Gas Investments (GB:UKOG) has released an update.
UK Oil & Gas PLC faces a legal challenge as the Supreme Court has ruled that Surrey County Council failed to consider end-use carbon emissions in its 2019 planning consent for oil production at Horse Hill. The company is now seeking to amend the planning application or submit a new one, adhering to the updated Environmental Impact Assessment requirements. Despite this setback, UKOG’s CEO emphasizes a strategic pivot towards underground hydrogen storage projects, aligning with the UK’s low carbon energy ambitions.
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