+923218400111
ROOM NO 214, 2ND FLOOR, LSE PLAZA, 19-KHYABAN-E-AIWAN-E-IQBAL, LAHORE
accounts@bspl.com.pk

Are you ready to change the game? Find Out More

Andy Burnham expected to reverse ban on new oil and gas drilling: Here’s why
Home » BUISNESS  »  Andy Burnham expected to reverse ban on new oil and gas drilling: Here’s why

Andy Burnham expected to reverse ban on new oil and gas drilling: Here’s why
Andy Burnham expected to reverse ban on new oil and gas drilling: Here’s why

On Saturday, Andy Burnham is expected to unwind the government restrictions on new oil and gas drilling as he becomes Prime Minister.

This decision to grant new licenses for the key practice in the North Sea would represent a shift from Labour’s 2024 manifesto in which it guaranteed the continuation of existing permits but pledged not to issue new ones.

On Monday, Burnham will become Prime Minister, and he is expected to outline his legislative programme including plans to take water and energy companies under public control and initiate a significant council-house building programme. 

At present, he is under pressure over North Sea drilling from both the Conservatives and Reform UK who will support new oil licenses.

Burnham’s team would not comment on the proposals today but the debate primarily focuses on two sites, Rosebanks and Jackdaw-off the north-eastern coast of Scotland.

According to the Guardian, the former energy secretary Claire Coutinho acknowledged in 2023 that new licenses “wouldn't necessarily bring energy bills down”, although she clarified that they would improve the security of supply.

Nonetheless, the Green Party challenged the validity of this claim on Saturday with MP Adrian Ramsay adding that words are no substitute for actions.

“With heat waves causing deaths, wildfires and extreme weather across the country, new oil and gas drilling is exactly the wrong response and will do nothing to bring down energy bills,” he continued.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Public Notice

Beware of Fraudulent Schemes Misusing the Name of Bridge Securities Pvt. Ltd

Fraudulent individuals and entities may misuse the identity of Bridge Securities Pvt. Ltd or falsely impersonate its directors or executives to deceive the public through unauthorized communication channels, fake profiles, and misleading information.

We strongly advise our clients and the general public to exercise caution and remain vigilant against such scams.

Please note:

  • Bridge Securities Pvt. Ltd has no affiliation with any unofficial pages, profiles, apps, or WhatsApp numbers.
  • We never request OTPs, personal information, funds, or investments through unofficial platforms.
  • All communication from Bridge Securities Pvt. Ltd is conducted only through our official phone numbers, website, email, social media handles through official representatives.

For your safety:

  • Always verify the authenticity of any communication before engaging.
  • Make sure that you are dealing with licensed entities and registered professionals by conducting research from the PSX and SECP websites.
  • Regularly visit SECP, PSX, CDC, and NCCPL websites for authentic updates.
  • Transact only through official banking channels linked to licensed brokers.
  • In case of any ambiguity it is recommended to contact and verify the information through our official representatives.

Official Channels:

  • Website: www.bspl.com.pk
  • Email: accounts@bspl.com.pk
  • Social Media: Not Available
  • Helpline: 0321-8400111

Shareholder Agahi – Your Gateway to Shareholder Insights

Pakistan’s first comprehensive platform, developed by PICG and CDC, dedicated to enhancing shareholder awareness and empowerment.

Discover Shareholder Agahi- Your one-stop hub for real-time shareholder updates, rights, and governance insights. Empower yourself with accurate information.Explore the portal: https://www.shareholderagahi.com/ Watch the tutorial (Urdu): https://www.youtube.com/watch?v=O7iCRiKJ37A

This will close in 20 seconds