UK oil and gas explorers slip as Labour says it will not issue new exploration licences

Europa Oil & Gas (Holdings)

13/06/2024 13:13

** North Sea focussed Harbour Energy  HBR.L  and Ithaca
Energy  ITH.L  fall 2.8% and 1.9%, respectively
    ** Britain's opposition Labour Party says it would not issue
new oil and gas exploration licences in North Sea if it wins
next month's general election 
    ** Labour won't issue new licences as "they will not take a
penny off bills, cannot make us energy secure, and will only
accelerate the worsening climate crisis" 
    ** Capricorn Energy  CNE.L , Europa Oil & Gas  EOG.L  and
Deltic Energy  DELT.L  also shed between 3.5% and 9.5%
    ** UK's oil and gas producers index  .FTNMX601010  slips
0.2% 
    ** However, Labour says it will not revoke existing licences
and would partner with business to manage existing fields for
the entirety of their lifespan 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))