🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Scottish government wins fracking case against energy giant Ineos

Published 19/06/2018, 13:06
© Reuters. A logo is pictured in the headquarters of INEOS chemicals company in Rolle

EDINBURGH (Reuters) - Scotland's highest court has ruled in favour of a government ban on fracking which had been challenged by energy giant Ineos, the Scottish government said on Tuesday.

"This decision vindicates the extensive process of research and consultation which the Scottish government has undertaken since 2015," Scottish business minister Paul Wheelhouse said in a statement. "Our preferred position is not to support unconventional oil and gas extraction in Scotland (fracking), and that position remains unchanged."

The devolved government said a moratorium on fracking - gas extraction via hydraulic fracturing of the ground - was in place. That meant no local authority could grant planning permission until an impact assessment process had been carried out.

Ineos had argued that the ban was imposed unlawfully, and that it contradicted evidence that shale gas could be produced safely by unconventional methods.

© Reuters. A logo is pictured in the headquarters of INEOS chemicals company in Rolle

Scotland decided to outlaw fracking in October after a public consultation found overwhelming opposition to it.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.