Putin ally Alekperov resigns as president of Russia’s Lukoil

Billionaire oligarch steps down from Russia’s second-largest oil firm after being hit with EU and UK sanctions

The multibillionaire Russian oligarch Vagit Alekperov has stepped down as the president of the London-listed firm Lukoil after sanctions were imposed on him by the UK and EU.

In a statement to the stock market, Russia’s second-largest oil company said Alekperov, who is on good terms with Vladimir Putin, had formally notified the company of his decision to resign on Thursday.

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More than 90% of Australia’s fuel imported – leaving country vulnerable to shortages, report says

Experts say not enough is being done to reduce petrol consumption and encourage uptake of electric vehicles

Almost all of Australia’s fuel supply is imported, leaving the country vulnerable to shortages, a thinktank has warned in a new report accusing the government of not doing enough to reduce and replace demand.

As the war in Ukraine puts the global fuel supply in sharp focus, the Australia Institute found that 91% of Australia’s fuel in the 2021 financial year was imported (including 68% imported as refined crude, as well as 71% of the fuel refined here).

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Climate and heritage experts call on British Museum to end BP sponsorship

Culture Unstained put together submission stating oil company ‘falls short’ in response to climate crisis

A group of climate scientists, archaeologists and those familiar with the museum industry have written to the British Museum’s board of trustees to urge them to sever a sponsorship deal with BP, arguing that it goes against the museum’s own policies and that a renewal would damage its reputation.

The submission, put together by the group Culture Unstained, is part of an escalating campaign against the oil firm’s sponsorship of the museum, which is expected to make a decision about renewing the deal imminently.

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Tunisia’s neighbours offer help to contain damage after fuel ship sank

Divers find no leaks and government says ‘outlook is positive’ as navies try to limit environmental harm from sinking of vessel carrying 750-1,000 tonnes

Some neighbouring countries have offered to help Tunisia prevent damage to the environment after a merchant ship carrying up to 1,000 tonnes of fuel sank off the country’s coast, the Tunisian defence ministry has said.

The ship, which was travelling from Equatorial Guinea to Malta, requested entry to Tunisian waters on Friday evening due to bad weather. It sank near Gabes, and the Tunisian navy rescued all seven crew members. After being checked in hospital, all seven were taken to a hotel.

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Public lands to reopen for oil and gas drilling in a first under Biden

Interior department raises royalty rates by 50% as administration juggles high oil prices and climate impact

As federal officials weigh efforts to fight the climate crisis against pressure to bring down high gasoline prices, the interior department is moving forward with the first onshore sales of public oil and natural gas drilling leases under Joe Biden.

The move also calls for a sharp increase in royalty rates for companies, ostensibly to limit global emissions driving the climate crisis, though economists say the effect will be relatively small.

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Diesel tanker sinks off Tunisia risking environmental disaster

Ship carrying 750 tonnes of fuel from Egypt to Malta ran into difficulty in bad weather on Friday evening

A tanker carrying 750 tonnes of diesel fuel from Egypt to Malta sank in the Gulf of Gabes off Tunisia’s south-east coast, sparking a rush to avoid a spill.

The Equatorial Guinea-flagged Xelo was sailing from the Egyptian port of Damietta to Malta when it requested entry to Tunisian waters on Friday evening owing to bad weather.

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No 10 condemns ‘guerrilla tactics’ of Just Stop Oil blocking fuel deliveries

Shortages at filling stations reported as campaign obstructs deliveries from fuel terminals in England

Downing Street has condemned the “guerrilla tactics” of protesters who have blockaded fuel distribution terminals, as reports of shortages at petrol station forecourts spread and figures showed a fall in fuel deliveries.

Supporters of the Just Stop Oil campaign have taken action at 11 different fuel terminals in England since the start of the month, blockading and trespassing on sites to stop tankers entering, filling up or leaving to deliver fuel.

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Climate activists ‘disrupt supplies from three oil terminals in England’

Just Stop Oil says action will affect fuel availability at petrol pumps across south-east and Midlands

Clean energy campaigners claim to have disrupted supplies from three oil terminals in the Midlands and south-east of England, as motorists complain that some petrol stations are running short of fuel.

The government said only one terminal was out of action on Sunday afternoon as a result of the Just Stop Oil protests, and that local police forces were working with the industry to ensure that fuel supplies can be maintained.

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Germany will stop importing Russian gas ‘very soon’, says Olaf Scholz

Chancellor declines to endorse claim by Boris Johnson during London visit that goal will be achieved by mid-2024

The German chancellor, Olaf Scholz, has said his country is doing all it can to wean itself off Russian energy, but declined to endorse a claim by Boris Johnson that it would stop importing Russian gas by the middle of 2024.

Scholz said only that the goal would be achieved very soon, and that Germany would stop using Russian coal by the summer and Russian oil by the end of the year.

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Putin’s daughters targeted in US sanctions against Russia

Joe Biden links new measures directly to accounts of atrocities committed by Russian forces in Bucha

The US has announced a new round of sanctions targeting Russia’s top public and private banks and two daughters of Vladimir Putin, following mounting global accusations of Russian war crimes in Ukraine.

The sanctions targeted Maria Vorontsova and Katerina Tikhonova, two adult daughters of Putin’s with his former wife Lyudmila Shkrebneva.

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Environmental protesters block oil terminals across UK

Activists climb on tankers and glue themselves to roads around London, Birmingham and Southampton

Hundreds of environmental protesters have blocked seven oil terminals across the country as part of a campaign to paralyse the UK’s fossil fuel infrastructure.

Early on Friday, supporters of Just Stop Oil began blockades at oil refineries around London, Birmingham and Southampton by climbing on top of tankers and gluing themselves to road surfaces.

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EU leaders wrangle with issue of oil and gas imports from Russia at summit

Poland and Baltic states seek embargo, while other countries including Germany and Belgium want gradual measures

European Union leaders have laid bare their differences over whether to stop buying oil and gas from Russia, following a show of transatlantic unity in a series of summits with Joe Biden and an impassioned appeal by the Ukrainian president, Volodymyr Zelenskiy, for more military aid to defend his country.

In the third summit on a hectic day of diplomacy that began with an emergency meeting of Nato leaders, followed by the G7, EU leaders met the US president to discuss Russia’s war against Ukraine.

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UN head says time for Russia to end ‘unwinnable’ Ukraine war

Leaders from the bloc to meet on Thursday to discuss support above the €1.2bn emergency fund already agreed

The UN secretary general, Antonio Guterres, has said it is time for Russia to end its “absurd” and “unwinnable” war in Ukraine, as the EU prepared to set up a “trust fund” aimed at helping Kyiv repel the invasion and rebuild afterwards.

Speaking to reporters at the UN’s headquarters in New York, Guterres said the war was “going nowhere, fast”. For more than two weeks, the devastated southern city of Mariupol had been encircled by Russian forces, bombed and shelled, he said.

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Germany agrees gas deal with Qatar to help end dependency on Russia

Long-term contract will not immediately stop flow of money to Russia, for which German ministers have been criticised

Germany has agreed a contract with Qatar for the supply of liquefied natural gas (LNG) that will help the European country wean itself off its dependency on Russian energy.

But the contract is a long-term solution and will do little to slow the current flow of European money into Russian coffers, estimated to be worth $285m (£217m) a day for oil alone.

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After Ukraine, how will the world replace Russia’s oil products?

A report from the International Energy Agency makes clear that viable alternatives are limited

As Boris Johnson flew to the Gulf this week to ask for more oil to replace supplies from Russia, he was accused by the Labour leader, Keir Starmer, of “going cap in hand from dictator to dictator”.

At the same time, a report produced by the International Energy Agency (IEA) underlined just how limited the options are for any economy seeking to replace Russian crude and other oil products.

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Car-free Sundays? IEA sets out 10-point plan to reduce global oil demand

Energy watchdog says measures could help cut oil usage by 2.7m barrels a day within four months

Driving more slowly, turning down the air-conditioning, car free Sundays and working from home should be adopted as emergency measures to reduce the global demand for oil, according to a 10-point plan from the International Energy Agency (IEA).

Such measures and changes to consumer behaviour would allow the world to cut its oil usage by 2.7m barrels per day (bpd) within four months – equivalent to more than half of Russia’s exports – the global energy watchdog said.

Reduce speed limits on highways by at least 10 km/h
Saves about 290,000 bpd of oil use from cars, and an additional 140,000 bpd if trucks also reduced their speed.

“A reduction in speed limits can be implemented by national governments; many countries did so during the 1973 oil crisis, including the United States and several European countries,” the IEA said.

Work from home up to three days a week where possible
One day a week saves about 170,000 bpd; three days saves about 500,000.

Pre-pandemic, the use of private vehicles to commute was responsible for about 2.7m barrels of oil use a day, the IEA said, yet about one-third of those jobs could be done from home.

Car-free Sundays in cities
Every Sunday saves about 380,000 bpd; one Sunday a month saves 95,000.

Switzerland, the Netherlands and West Germany did this during the 1973 oil crisis and some cities have used the measure to promote public health more recently. Benefits include cleaner air, reduced noise pollution and improved road safety, the IEA report said.

Make public transport cheaper and incentivise walking and cycling
Saves about 330,000 bpd.

New Zealand is halving public transport fares for the next three months in response to high fuel prices, while studies in the US have shown cheaper fares lead to greater use. Some governments have incentivised people to walk or subsidised bike purchases. All of this would require government subsidy.

Alternate private car access to roads in large cities (eg every other day)
Saves about 210,000 bpd.

For example, cars whose number plate ends with an odd number can drive on Monday and those with an even number can drive on Tuesdays. Such schemes have been deployed to tackle congestion and air pollution peaks in Athens, Madrid, Paris, Milan and Mexico City. Exceptions could be made for electric vehicles. One downside is that households with multiple cars could game the rules.

Increase car sharing and adopt practices to reduce fuel use
Saves about 470,000 bpd.

Carpooling has long been used as a way to save money and reduce emissions. Governments can incentivise this with dedicated traffic lanes and parking spaces, or by reducing road tolls on higher occupancy vehicles. Many smartphone apps exist to arrange ride-shares.

Promote efficient driving for freight trucks and delivery of goods
Saves about 320,000 bpd.

As with private cars, freight trucks can be driven more efficiently, including the use of so-called “eco-driving” techniques such as reducing excess weight and not slowing down or speeding up abruptly. Loads should also be optimised to avoid journeys with empty vehicles.

Using high-speed and night trains instead of planes
Saves about 40,000 bpd.

Based on existing high-speed rail infrastructure, about 2% of flights in advanced economies could be shifted to trains, according to the IEA. Almost all of this involves flights of less than 800km.

Avoid business air travel where alternative options exist
Saves about 260,000 bpd.

The IEA recommends virtual meetings where possible and points out that firms such as HSBC, Zurich Insurance and S&P Global plan to cut their business travel emissions by as much as 70%.

Reinforce the adoption of electric and more efficient vehicles
Saves about 100,000 bpd.

By the end of last year, 8.4m electrical vehicles (EVs) were on the road in advanced economies but the IEA urged faster adoption. “Actions taken now to hasten the adoption of electric vehicles will have a sustained effect in the future,” it said.

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What would increasing Saudi Arabian oil production mean for the climate?

Explainer: Boris Johnson has asked Saudi Arabia to pump more oil; what implications would this have?

Why are Saudi Arabia and the United Arab Emirates being asked to pump more oil?

Western powers are looking for ways to keep the pressure on Russia during its invasion of Ukraine. Some countries have committed to phasing out Russian oil and gas, while others are still investigating ways of doing this. Saudi Arabia is one of a number of countries, along with Venezuela and Iran, that might be able to plug the gap in oil production.

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Philippines considers four-day working week to combat rising costs

Economist calls for compressed working hours with 10-hour days in response to higher fuel prices

The Philippines is considering a four-day working week to conserve energy, as the cost of fuel continues to rise globally, driven by Russia’s invasion of Ukraine.

Officials are searching for ways to soften the impact of dramatic price increases, which have prompted calls for a rise in the minimum wage and greater assistance for drivers.

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Boris Johnson upbeat on Saudi oil supply as kingdom executes three more

PM accused of ‘trading blood for oil’ as he seeks increased Middle East output to lessen reliance on Russia

Boris Johnson has hinted Saudi Arabia could speed up oil production to help calm spiralling energy prices for Britons, as he praised the country for improving its human rights record despite three more people being executed during his visit.

With pressure rising at home over a cost of living crisis compounded by western countries trying to end their reliance on Russian imports, the UK prime minister made a dash to the Middle East to urge leaders to help stabilise oil prices by ramping up supply.

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Boris Johnson going ‘from dictator to dictator’ for oil, says Starmer

Labour leader warns about replacing dependence on Russia with reliance on Saudis, as PM prepares for Gulf visit

Keir Starmer has accused Boris Johnson of “going cap in hand from dictator to dictator,” as the prime minister prepares to fly to Saudi Arabia to seek alternatives to Russian oil supplies.

Johnson has a personal relationship with the Saudi leader, Mohammed bin Salman, and government sources suggest he could help persuade the Saudis to increase oil production. The prime minister defended the trip on Tuesday, saying he had to build a coalition of countries to help the west reduce its dependence on Vladimir Putin, likening the Russian leader to a drug dealer who had got the west hooked on his hydrocarbons.

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