Company drops plan to drill for oil in Wolds

Plans to drill for oil in the Lincolnshire Wolds have been abandoned.

A public inquiry was expected to be held next year into the proposed site at Biscathorpe after a long running campaign against it by local protesters.

Now the company behind the scheme, Union Jack Oil, said in a statement to the London Stock Exchange that it was withdrawing from the planning appeal as it "could no longer justify its continued investment".

Amanda Suddaby, from campaign group SOS Biscathorpe, said they were "relieved and delighted".

"It's a lovely early Christmas gift for everyone who has worked so hard for this outcome and we're immensely grateful to everyone who has contributed over the years," she added.

The application for an oil well at Biscathorpe was initially refused by Lincolnshire County Council in 2021, but the developer successfully appealed against the decision at the High Court.

In 2024, an objection by SOS Biscathorpe led to a Supreme Court judgement which quashed the approval to drill and triggered a planning appeal hearing, which was due to be heard in April.

David Bramhill, executive chairman of Union Jack Oil, said after a review the firm had decided to relinquish its drilling licence for the site.

"With a backdrop of a changing macro-economic environment, along with the continued regulatory uncertainty in relation to how downstream emissions will be considered, we have concluded that this is the correct decision for the company's wider objectives," he said.

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