Sable Offshore: Regulatory Risk Impact

25 days ago

Natalyia Geneva Chavich

"So, we have this uh news development. So on December 23rd, the stock jumped by almost 37% after US regulators issued an emergency special permit for a part of that contested California pipeline which would pave the way for Sable Offshore to begin pumping pumping crude uh at its offshore oil rigs. But today we got news that environmental defense center and center for biological diversity filed an emergency motion to hold the res uh restart of this contested California pipeline. Environmental groups are saying that restarting the pipeline would invite invite another oil disaster on the central coast. So that is why the stock is down by almost 13% today. And again, this is still in process and we may hear more news uh maybe early next year or maybe even next week."

The analysis on Sable Offshore (S) explains that after a regulatory permit boosted the stock significantly in December, new environmental motions are now threatening a restart of the pipeline, citing potential disaster risks. The pending regulatory actions have driven the stock down by almost 13%, with further news expected soon.

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