logo
Public can have say on latest oil drilling update

Public can have say on latest oil drilling update

Yahoo2 days ago
A campaign group is urging residents to have their say on the latest stage of a long-running legal battle over oil drilling in the Lincolnshire Wolds.
The decision to approve an oilfield in Biscathorpe was quashed in July last year following a Supreme Court judgement after a claim had been brought in by SOS Biscathorpe.
Last year, justices at the Supreme Court said emissions created by burning fossil fuels should be considered when granting planning permission for new drilling sites.
The public have until 28 July to submit their opinions on further information submitted by the developer, Egdon Resources, on the potential climate impact of burning extracted oil.
Mark Abbott, chief executive officer at Edgon Resources, said the company had submitted an assessment of the greenhouse gas emissions at the request of the Planning Inspectorate.
The documents can be viewed on the planning applications portal on Lincolnshire County Council's website.
The application for an oil well at Biscathorpe was initially refused by Lincolnshire County Council in 2021, but the company successfully appealed it before it was taken to the High Court.
SOS Biscathorpe, which has been fighting the plans for years, said the development "delivers almost nothing for national energy security, while threatening the integrity of one of Lincolnshire's most treasured natural areas".
Mr Abbott said: "Although we are in transition away from fossil fuels, we are still highly reliant on oil and gas for transportation, heating our homes and running our businesses."
According to the Local Democracy Reporting Service, Egdon Resources previously said it could potentially extract 6.5 million barrels of oil over 15 years at the site.
People wanting to submit their opinions can do so by writing to the Planning Inspectorate using the Planning Inspectorate Portal on its website, a document on the appeal application stated.
Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Wolds oil drilling plans quashed in landmark ruling
Oil drilling decision questioned at High Court
'National need' for oil justifies drilling decision
Decision still awaited on oil drilling appeal
Biscathorpe oil drilling appeal
Planning Inspectorate
Egdon Resources
SOS Biscathorpe
Local Democracy Reporting Service
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Fielmann (0MG1) Gets a Buy from Kepler Capital
Fielmann (0MG1) Gets a Buy from Kepler Capital

Business Insider

timea day ago

  • Business Insider

Fielmann (0MG1) Gets a Buy from Kepler Capital

Kepler Capital analyst Craig Abbott maintained a Buy rating on Fielmann on July 10 and set a price target of €60.00. The company's shares closed last Thursday at €58.70. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Abbott is a 4-star analyst with an average return of 8.9% and a 56.03% success rate. Abbott covers the Industrials sector, focusing on stocks such as Bilfinger, Rational, and CTS Eventim AG & Co. KGaA. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fielmann with a €57.67 average price target, implying a -1.75% downside from current levels. In a report released yesterday, Baader Bank also maintained a Buy rating on the stock with a €67.00 price target. Based on Fielmann's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of €592.93 million and a net profit of €51.98 million. In comparison, last year the company earned a revenue of €529.11 million and had a net profit of €42.24 million

Abbott (ABT) Suffers a Larger Drop Than the General Market: Key Insights
Abbott (ABT) Suffers a Larger Drop Than the General Market: Key Insights

Yahoo

timea day ago

  • Yahoo

Abbott (ABT) Suffers a Larger Drop Than the General Market: Key Insights

In the latest trading session, Abbott (ABT) closed at $132.02, marking a -1.18% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.33%. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.22%. Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 2.09% lagged the Medical sector's loss of 0.32% and the S&P 500's gain of 4.07%. The investment community will be paying close attention to the earnings performance of Abbott in its upcoming release. The company is slated to reveal its earnings on July 17, 2025. The company is predicted to post an EPS of $1.25, indicating a 9.65% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.07 billion, indicating a 6.7% increase compared to the same quarter of the previous year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.16 per share and revenue of $44.7 billion. These totals would mark changes of +10.49% and +6.56%, respectively, from last year. It is also important to note the recent changes to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. As of now, Abbott holds a Zacks Rank of #2 (Buy). In terms of valuation, Abbott is presently being traded at a Forward P/E ratio of 25.91. This represents a premium compared to its industry average Forward P/E of 20.14. One should further note that ABT currently holds a PEG ratio of 2.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABT's industry had an average PEG ratio of 2.29 as of yesterday's close. The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 37% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abbott Laboratories (ABT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Public can have say on latest oil drilling update
Public can have say on latest oil drilling update

Yahoo

time2 days ago

  • Yahoo

Public can have say on latest oil drilling update

A campaign group is urging residents to have their say on the latest stage of a long-running legal battle over oil drilling in the Lincolnshire Wolds. The decision to approve an oilfield in Biscathorpe was quashed in July last year following a Supreme Court judgement after a claim had been brought in by SOS Biscathorpe. Last year, justices at the Supreme Court said emissions created by burning fossil fuels should be considered when granting planning permission for new drilling sites. The public have until 28 July to submit their opinions on further information submitted by the developer, Egdon Resources, on the potential climate impact of burning extracted oil. Mark Abbott, chief executive officer at Edgon Resources, said the company had submitted an assessment of the greenhouse gas emissions at the request of the Planning Inspectorate. The documents can be viewed on the planning applications portal on Lincolnshire County Council's website. The application for an oil well at Biscathorpe was initially refused by Lincolnshire County Council in 2021, but the company successfully appealed it before it was taken to the High Court. SOS Biscathorpe, which has been fighting the plans for years, said the development "delivers almost nothing for national energy security, while threatening the integrity of one of Lincolnshire's most treasured natural areas". Mr Abbott said: "Although we are in transition away from fossil fuels, we are still highly reliant on oil and gas for transportation, heating our homes and running our businesses." According to the Local Democracy Reporting Service, Egdon Resources previously said it could potentially extract 6.5 million barrels of oil over 15 years at the site. People wanting to submit their opinions can do so by writing to the Planning Inspectorate using the Planning Inspectorate Portal on its website, a document on the appeal application stated. Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here. Wolds oil drilling plans quashed in landmark ruling Oil drilling decision questioned at High Court 'National need' for oil justifies drilling decision Decision still awaited on oil drilling appeal Biscathorpe oil drilling appeal Planning Inspectorate Egdon Resources SOS Biscathorpe Local Democracy Reporting Service

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store