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UK Oil & Gas PLC - London-based exploration and production company focused on UK and Turkey - Says the refusal of planning consent for its wholly-owned Loxley conventional gas and hydrogen feedstock project has been overturned. Planning and environmental consents in the Loxley project can now proceed. Surrey County Council twice refused planning consent for the project.
Chief Executive Stephen Sanderson says: ‘We welcome this decision and its backing for Loxley's gas as a secure, sustainable energy source with a far lower pre-combustion carbon footprint than imports...We look forward to moving the Loxley project forwards and to working constructively with the local community.’
Current stock price: 0.17 pence
12-month change: down 15%
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