Europa Oil & Gas shares drop 8.3% after North Yorkshire denies gas drilling permit

Europa Oil & Gas saw its shares fall 8.3% after North Yorkshire Council refused planning permission for its Cloughton gas appraisal well. The council's decision contradicted recommendations from its own planning officers and 13 independent experts who supported the project. Europa expressed disappointment and is considering an appeal, remaining confident that permission will eventually be granted. This setback highlights ongoing challenges for onshore oil and gas projects in the UK due to environmental concerns and local opposition.