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EU lawmakers reject call for ban on Arctic oil exploration / AND, Norway Plans Record Number Of Arctic Oil Exploration BlocksEU lawmakers reject call for ban on Arctic oil explorationEU lawmakers reject call for ban on Arctic oil explorationby Reuters Thursday, 16 March 2017 13:46 GMT By Waverly Colville BRUSSELS, March 15 (Reuters) - The European Parliament rejected a call to ban Arctic oil and gas exploration on Thursday, in a symbolic vote seen as a barometer for future moves by Brussels to regulate to protect the region. Lawmakers who back the ban, which had drawn the ire of Norway, say the European Union needs a strategy for future developments in a region being transformed by climate change. Lawmakers voted 414-180 to reject the non-binding motion calling for the European Commission and member states to work with international forums towards "a future total ban on the extraction of Arctic oil and gas". The European Parliament did, however, endorse a call to ban oil drilling in the region's "icy" waters - wording Norway says does not concern its current plans. Norway, which on Monday announced plans to nominate a record number of blocks for oil and gas exploration in the Barents Sea, says it only allows drilling in the Arctic away from the area that is vulnerable to sea ice in winter. The motion to ban exploration in the Arctic was brought by Estonian liberal lawmaker Urmas Paet and Finnish centre-right lawmaker Sirpa Pietikainen. But even Paet said that, while there was a need for cautious management of the environment, oil and gas extraction in the Arctic was "a decision of sovereign states". The motion also called for greater cooperation among Arctic states to safeguard indigenous people in the region from the worst impacts of global warming; protect the environment from fossil fuel exploration; and reduce military tensions. Oil majors are resuming their search for giant offshore fields in the region after a two-year lull as a recent stabilisation in oil prices revives appetite for exploration - alarming environmental groups. The Arctic is estimated to hold more hydrocarbon reserves than Saudi Arabia and governments including Russia, Norway and Denmark are keen to stake their claim over the icy waters. (Reporting by Waverly Colville; Writing by Alissa de Carbonnel; Editing by Susan Fenton) + * + Norway Plans Record Number Of Arctic Oil Exploration BlocksBy Tsvetana Paraskova - Mar 13, 2017, 3:22 PM CDTNorway’s government announced initial plans on Monday to open a record number of oil exploration blocks in the Barents Sea, sparking renewed criticism from environmental groups. Norway’s Ministry of Petroleum and Energy is proposing 102 blocks in the 24th licensing round, of which nine blocks are in the Norwegian Sea, and a record-high 93 blocks – in the Barents Sea. A considerable number of the blocks proposed in the Barents Sea are located north of the northernmost oil discovery in Norway. Norway will announce the final blocks in the second quarter after a public consultationwith local communities, environmental groups and regulators. Norway – in contrast to other oil-rich countries – does not sell licenses, but rather awards them to the best applicant and reimburses 78 percent of drilling costs, Reuters recalls. Local environmental group Bellona has described the plans for nominating so many blocks as “total madness”, Reuters reports. “It’s as if the environment isn’t an issue for the government. This is on a collision course with the Paris Agreement [on climate change], the EU parliament and all Norwegian environmental management,” according to Bellona head Frederic Hauge, as quoted by Reuters. In addition, the environmental group warns that Arctic drilling may cost Norway’s government billions of kroner if drillers do not strike oil. The plans for nominating so many Arctic exploration blocks come as Greenpeace is suing Norway over the previous, 23rd, licensing round, for oil companies to drill in the Arctic Barents Sea. The plaintiffs -- Nature and Youth and Greenpeace Nordic -- argue “that Norway thereby violates the Paris Agreement and the people’s constitutional right to a healthy and safe environment for future generations”. The latest Arctic push by the Norwegian government also comes at a time in which the relatively stable and higher oil prices encouraged Statoil and Lundin to allocate more funds to Arctic drilling, especially since the price rise has been accompanied by a major discovery for Lundin and a likely future major discovery for Statoil. By Tsvetana Paraskova for Oilprice.com |
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Msg # | Subject | Author | Recs | Date Posted |
5581 | Re: EU lawmakers reject call for ban on Arctic oil exploration / AND, Norway Plans Record Number Of Arctic Oil Exploration Blocks | ICE | 0 | 3/17/2017 6:51:44 PM |
5582 | Re: EU lawmakers reject call for ban on Arctic oil exploration / AND, Norway Plans Record Number Of Arctic Oil Exploration Blocks | ICE | 0 | 3/27/2017 3:00:10 PM |