Scientists say calamities on same scale as disaster that has killed 169 will become more common if emissions not cut
The unusually intense, prolonged and extensive flooding that has devastated southern Brazil was made at least twice as likely by human burning of fossil fuels and trees, a study has shown.
The record disaster has led to 169 deaths, ruined homes and wrecked harvests, and was worsened by deforestation, investment cuts and human incompetence.
Continue reading...Invitation-only meeting comes on heels of controversial dinner at Mar-a-Lago where Trump reportedly offered $1bn quid pro quo
Donald Trump was continuing to ask fossil-fuel executives to fund his presidential campaign on Wednesday, despite scrutiny of his relationship with the industry.
The former president attended a fundraising luncheon at Houston’s Post Oak hotel hosted by three big oil executives.
Continue reading...Third parties could be required to do more to block tankers from operating in Baltic and the Channel
Britain and Finland are discussing plans to require third parties to do more to block the Russian shadow oil tanker fleet operating in the Baltic and the Channel, the Finnish foreign minister has said.
The waters around Finland act as a key choke point for the estimated 100 Russian-bought oil tankers that navigate the Baltic monthly using opaque ownership structures to carry 90m tonnes of oil.
Continue reading...Fossil-fuel dependent country hopes to provide bridge between wealthy global north and poor south at November gathering
Oil is inescapable in Baku, the capital of Azerbaijan. The smell of it greets the visitor on arrival and from the shores of the Caspian Sea on which the city is built the tankers are eternally visible. Flares from refineries near the centre light up the night sky, and you do not have to travel far to see fields of “nodding donkeys”, small piston pump oil wells about 6 metres (20ft) tall, that look almost festive in their bright red and green livery.
It will be an interesting setting for the gathering of the 29th UN climate conference of the parties, which will take place at the Olympic Stadium in November.
Continue reading...Unite launches bid to persuade Keir Starmer to invest more in north-east Scotland
The UK’s oil and gas workers risk becoming “the coal miners of our generation,” Unite’s general secretary, Sharon Graham, has warned, urging Labour not to ban new North Sea licences without a clear plan to safeguard jobs.
Unite is launching a billboard campaign in six Scottish constituencies aimed at persuading Keir Starmer to commit more investment to north-east Scotland, the centre of the offshore oil and gas industry.
Continue reading...Aberdeen-based firm listed on FTSE 250 knocked back unsolicited approach from Dubai-based Sidara
The British oil services company John Wood Group has rejected a £1.4bn takeover offer from a Dubai-based rival, Sidara, which “fundamentally undervalued” the company.
Aberdeen-based Wood is the latest British company on the London Stock Exchange to face takeover speculation amid deepening concerns that UK-listed stocks are undervalued compared with other markets.
Continue reading...£5.5bn loss in 2023 comes after gas sales more than halved following Russia’s invasion of Ukraine
The Kremlin-owned gas company Gazprom has plunged to its first annual loss in more than 20 years, after gas sales more than halved following Vladimir Putin’s invasion of Ukraine.
The company made a net loss of 629bn roubles (£5.5bn) in 2023 amid dwindling gas trade with Europe, once Gazprom’s main sales market, as a result of sanctions and the throttling of pipelines to the continent.
Continue reading...Increase in cost of crude could drive inflation up and force central banks to keep interest rates high
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A serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and reverse the recent downward trend in global inflation, the World Bank has said.
The Washington-based institution said the recent fall in commodity prices had been levelling off even before the recent missile strikes by Iran and Israel – making interest rate decisions for central banks tougher.
Continue reading...Broad terms of subpoenas a ‘chilling’ precedent that could undermine future climate litigation, legal experts say
A federal court judge has allowed Santos to subpoena paperwork held by three activist groups who were not directly involved in a lawsuit against the oil company.
Justice Natalie Charlesworth ruled on Wednesday afternoon that Santos could pursue financial records and communications between activist groups – Sunrise, Jubilee Australia and the NT Environment Centre – and the Environmental Defenders Office (EDO) in order to determine whether the company will also pursue the campaign organisations for costs for the lawsuit carried out by the EDO on behalf of Tiwi Island traditional owners.
Continue reading...£2.2bn-worth of oil processed in China, India and Turkey – to whom Russia supplies crude – was imported in 2023, data shows
The UK has been accused of “helping Russia pay for its war on Ukraine” by continuing to import record amounts of refined oil from countries processing Kremlin fossil fuels.
Government data analysed by the environmental news site Desmog shows that imports of refined oil from India, China and Turkey amounted to £2.2bn in 2023, the same record value as the previous year, up from £434.2m in 2021.
Continue reading...Foreign minister warns of environmental catastrophe in Baltic Sea as he accuses Moscow of using unseaworthy vessels
Russia appears prepared to create “environmental havoc” by sailing unseaworthy oil tankers through the Baltic Sea in breach of all maritime rules, the Swedish foreign minister has said.
Speaking to the Guardian during his first visit to London since Sweden became a Nato member, Tobias Billström called for new rules and enforcement mechanisms to prevent the ageing and uninsured Russian shadow fleet causing an environmental catastrophe. About half of all Russian oil transported by sea passes through the Baltic Sea and Danish waters, often operating under opaque ownership, and using international waters to try to avoid scrutiny.
Continue reading...In the UK, anxiety over the crisis after Iran’s missile strike on Israel drives down UK shares
An escalating Middle East conflict risks leading to higher oil prices, a reversal of the recent fall in inflation and a puncturing of the optimistic mood in financial markets, the International Monetary Fund has warned.
The Washington-based IMF said it was closely monitoring events in the region after Iran’s missile strike on Israel at the weekend and stressed the possibility that a war between the two countries could lead to higher interest rates.
Continue reading...Company is fighting Dutch court ruling that says it must emit 45% less CO2 by 2030 than in 2019
Shell has argued that it “lobbies for, not against, the energy transition” on the final day of its appeal against an important climate ruling.
The fossil fuel company is fighting the decision of a Dutch court in 2021 that forces it to pump 45% less planet-heating CO2 into the atmosphere by 2030 than it did in 2019. In court on Friday, Shell argued the ruling is ineffective, onerous and does not fit into the existing legal system.
Continue reading...Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firms
Abu Dhabi’s state-owned oil company reportedly recently explored a multibillion-pound bid for BP, in a sign that depressed share values in London are making even the biggest British businesses takeover targets.
Abu Dhabi National Oil Company (Adnoc) considered options including buying BP or acquiring a large stake before deciding it was not the right fit and abandoning preliminary discussions, according to Reuters.
Continue reading...Authorities to launch inquiry into allegations of mismanagement at country’s national oil corporation
Libyan authorities have said they will investigate allegations of wholesale mismanagement in the country’s National Oil Corporation, with officials telling the Guardian rampant smuggling is helping to fuel the civil war in Sudan.
Mohamed al-Menfi, the chair of the presidential council, will launch an inquiry this week, t he scope of which is likely to also cover the widespread practice of fuel smuggling and its key beneficiaries.
Continue reading...Blockades at facilities in Germany, the Netherlands, Norway and Sweden, with protests in Scotland and action expected in Denmark
Climate activists in four countries are blocking access to North Sea oil infrastructure as part of a coordinated pan-European civil disobedience protest.
Blockades have been taking place at oil and gas terminals, refineries and ports in Germany, the Netherlands, Norway and Sweden, in protest at the continued exploitation of North Sea fossil fuel deposits.
Continue reading...Unified command was formed to look in to the origin of the sheen, which did not seem to be expanding since it was first detected
Authorities in southern California are investigating a 2.5-mile (4km) long oil sheen that emerged off the coast of Huntington Beach on Thursday evening.
The sheen doesn’t appear to be a crude oil spill – it could be the result of natural seepage – and federal and state teams have deployed to the area to determine the source.
Continue reading...Firm told it must take responsibility for toxic legacy of pollution and safe decommissioning of abandoned oil infrastructure
The oil firm Shell cannot be allowed to withdraw from the Niger delta before it takes responsibility for its toxic legacy of pollution and the safe decommissioning of abandoned oil infrastructure, a report says.
Shell plc is preparing to divest from the delta but a report warns that it must remain until it has cleaned up its legacy of pollution.
Continue reading...Fuel continues to leak from overturned and abandoned barge as stain spreads into the Caribbean Sea
An oil spill that has stained Tobago’s coastline in the Caribbean is entering Grenada’s waters and could affect neighboring Venezuela, authorities have warned.
Eight days after Trinidad and Tobago’s coastguard first spotted the oil from an overturned and abandoned barge, the vessel continues to leak fuel, and portions of the stain have moved about 144km (89 miles) into the Caribbean Sea at a rate of 14km/h.
Continue reading...Aerial evidence follows months of President Nicolás Maduro ramping up claim to Essequibo region
Venezuela is expanding military bases near its border with Guyana and deploying forces to the jungle frontier as President Nicolás Maduro ramps up his threats to annex the country’s oil-rich neighbour, satellite images have revealed.
Maduro pledged at mediation talks in December not to take military action against his neighbour but images shared by the Center for Strategic and International Studies (CSIS) in Washington today suggest a buildup of forces.
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