Deputy PM calls for rapid clearance from German regulator after prices reach an all-time high
Russia’s deputy prime minister has said certification of the Nord Stream 2 undersea gas pipeline, which is awaiting clearance from Germany’s regulator, could cool soaring European gas prices.
Prices have risen sharply in response to a recovery in demand, particularly from Asia, with storage levels low.
Continue reading...‘Shark calling’, an ancient custom of hunters singing to sharks then catching them by hand, is under threat and locals blame deep-sea disturbances
More in this series
• Race to the bottom: the disastrous, blindfolded rush to mine the deep sea
• ‘False choice’ – is deep sea mining required for an electric vehicle revolution?
• Covid tests and superbug killers: how the deep sea is key to fighting pandemics
To catch a shark in the waters off Papua New Guinea, first the men sing.
They sing the names of their ancestors and their respects to the shark. They shake a coconut rattle into the sea, luring the animals from the deep, and then catch them by hand.
Continue reading...No cause for alarm now, says Kwasi Kwarteng as energy discussions are likened to early Covid crisis talks
The government was scrambling on Saturday night to reassure Britons that rising gas prices would not plunge the country into an energy crisis, as ministers held a series of emergency meetings with energy companies and regulators to establish whether the nation could keep the lights and central heating on this winter.
A senior industry insider likened the meetings held between the business secretary, Kwasi Kwarteng, and energy industry leaders to the early crisis talks held following the outbreak of Covid-19.
Continue reading...Contents will be trucked to Lebanon to ease energy crisis, a plan that could challenge US resolve towards two foes
An Iranian tanker carrying fuel bound for Lebanon was at anchor in the Red Sea on Friday ahead of the final leg of a voyage to Syria, which is set to pose the biggest test yet to US sanctions imposed on two arch regional foes.
The tanker is expected in the Syrian port of Baniyas early next week, in defiance of US sanctions that prevent oil exports from Iran and imports to Syria, which have both been subject to stringent US-imposed restrictions on trade. The imminent arrival is being hailed by the Lebanese militant group turned political bloc, Hezbollah, as a sanctions-busting solution for an energy crisis that has brought Lebanon to a standstill and led to widespread blackouts.
Continue reading...Trillions of metallic nodules on the sea floor could help stop global heating, but mining them may damage ocean ecology
In a display cabinet in the recently opened Our Broken Planet exhibition in London’s Natural History Museum, curators have placed a small nugget of dark material covered with faint indentations. The blackened lump could easily be mistaken for coal. Its true nature is much more intriguing, however.
The nugget is a polymetallic nodule and oceanographers have discovered trillions of them litter Earth’s ocean floors. Each is rich in manganese, nickel, cobalt and copper, some of the most important ingredients for making the electric cars, wind turbines and solar panels that we need to replace the carbon-emitting lorries, power plants and factories now wrecking our climate.
Continue reading...Since the pandemic hit, the world’s altered attitude to fossil fuels is throwing doubt over the industry’s future
The UK’s North Sea oil industry may have survived one of the darkest market downturns in history during the Covid-19 pandemic, but the deepest gloom lies over the future of the fossil-fuel industry.
Companies are braced for this week’s annual economic report from industry body Oil and Gas UK (OGUK). It is expected to lay bare the full toll of the pandemic on the ageing oil and gas basin last year.
Continue reading...They produce half the country’s sugar needs, but expect new trade deals to make their tough situation worse
In a field in Norfolk, the sight of lush green leaves sprouting from the soil are giving farmer Ed Lankfer cause for optimism. “I think this is one of the best crops we have ever grown,” he says, surveying one of his fields of sugar beet.
The signs are promising so far for this year’s harvest – known in the trade as a campaign – which takes place later than for other crops, during the autumn and winter. It would mark quite the turnaround from 2020’s terrible harvest, when bad weather and pests caused yields of the white sugar-yielding root to plummet by as much as 60%, leaving Lankfer with a £12,000 loss.
Continue reading...Combine the pandemic with rising raw material costs, stir in a labour shortage, a twist of Brexit, add a pinch of poor weather and voila …
Tinned tomatoes are a taken-for-granted store cupboard staple, relied upon by Britons to whip up home cooked favourites such as spaghetti bolognese. But the price could soon make you take notice, amid warnings of higher shopping bills, set against a backdrop of soaring global food prices.
From the packaging to the transportation and the energy used in manufacturing, nearly all aspects of the production of this popular ingredient now cost more. The crushed tomatoes alone are 30% dearer than a year ago, at €0.48 per kilo. The same pressures are driving the prices of many foods higher, meaning Britons will probably face bigger bills for groceries or meals out this autumn.
Continue reading...Mining company Debswana shows the 1,098-carat stone to the country’s president, Mokgweetsi Masisi
The diamond firm Debswana has announced the discovery in Botswana of a 1,098-carat stone that it described as the third largest of its kind in the world.
The company showed the stone, which was found on 1 June, to the country’s president, Mokgweetsi Masisi, in the capital Gaborone.
Continue reading...In spite of green rhetoric, money has piled into aviation and car industries since start of pandemic, report finds
The nations that make up the G7 have pumped billions of dollars more into fossil fuels than they have into clean energy since the Covid-19 pandemic, despite their promises of a green recovery.
As the UK prepares to host the G7 summit, new analysis reveals that the countries attending committed $189bn to support oil, coal and gas between January 2020 and March 2021. In comparison, the same countries – the UK, US, Canada, Italy, France, Germany and Japan – spent $147bn on clean forms of energy.
Continue reading...A roundup of the coverage on struggles for human rights and freedoms, from Myanmar to Peru
Continue reading...As the value of gold reached new heights last year, those mining it continued to face crippling deprivation and dangerous conditions
The muddy slopes surrounding the eastern Congolese gold-mining town of Kamituga hold vast wealth and crippling deprivation.
In South Kivu province near the borders of Rwanda and Burundi, Kamituga has mineral resources estimated to be worth $24tn (£17tn) in untapped deposits. Yet the Democratic Republic of the Congo (DRC) has one of the lowest levels of GDP per capita in the world and people work in dangerous conditions with little hope of scratching out anything more than a meagre existence from tough and dangerous work.
Continue reading...The crypto asset is down more than 30% this week but is still up by more than 1,000% from the start of 2021
A senior manager at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto asset which has risen by more than 1,000% in value this year.
City sources said Aziz McMahon, a managing director and head of emerging market sales, had resigned from the bank after making money from investing in the digital currency based on the Doge internet meme.
Continue reading...At the mercy of international markets and denied access to mainstream finance, the enterprising growers face a precarious existence
Moreen Tanhara waits patiently for officials to inspect her tobacco. The 49-year-old has travelled nearly 100 miles (150km) overnight in an old lorry to reach Tobacco Sales Floor, an auction house in Harare. Tanhara sits quietly on one of the fragrant sacks she has brought from Guruve, a farming area north of Zimbabwe’s capital, while on the auction floor workers prepare tobacco leaves for the first sales of the season.
Related: Zimbabwe urged to take action against child labour on tobacco farms
Continue reading...Activists say the ‘heart of Africa’ line shipping crude from Uganda to Tanzania is unnecessary and poses a huge environmental risk
Activists have accused French and Chinese oil firms of ignoring huge environmental risks after the signing of accords on the controversial construction of a £2.5bn oil pipeline.
Uganda, Tanzania and the oil companies Total and CNOOC signed three key agreements on Sunday that pave the way for construction to start on the planned east African crude oil pipeline (EACOP). But on Tuesday a letter signed by 38 civil society organisations across both east African countries said the parties had failed to address environmental concerns over the pipeline and had steamrollered over court and parliamentary processes.
Continue reading...Analysis: 12% of global shipping uses the canal with any delays disrupting supply chains, fuelling shortages and hiking prices
World trade’s pre-eminent shortcut – the Suez Canal – is facing “massive” disruption which could cause cargo delays around the globe, shipping experts warned on Friday.
The narrow, 120-mile passage of water linking the Red Sea and the Mediterranean allows ships of colossal proportions to navigate a relatively direct route from Asia to Europe, rather than taking a 3,500-mile diversion around Africa.
Continue reading...As world shifts to green energy, Iraq and Nigeria among those vulnerable to ‘wave of instability’
Oil-dependent countries that are not preparing to adapt to the global shift away from fossil fuels risk their own stability, warns a new report.
Algeria, Iraq and Nigeria are the most vulnerable to “a slow-motion wave of political instability”, according to the risk analysts Verisk Maplecroft.
Continue reading...Two tankers flying the flag of the remote Pacific archipelago are alleged to have been involved in subterfuge shipping of Iranian oil
Two tankers flying the flag of the Cook Islands have been scrubbed from the islands’ shipping registry after allegations the vessels were sanctions-busting, transporting Iranian crude oil while concealing their movements.
US sanctions on Iran’s oil and gas sector have, somewhat improbably, caught up the tiny Cooks archipelago on the other side of the world.
Continue reading...UK FTSE was down 2.5%, its biggest one-day fall in percentage terms since the end of October
Global stock markets ended February deep in the red, as fears of higher inflation prompted a sell-off in government bonds and spread anxiety across financial markets.
The UK’s FTSE 100 index fell 168 points to 6,483, a 2.5% drop – the biggest one-day fall in percentage terms since the end of October.
Continue reading...World’s biggest investor wants polluting industries to set targets to cut emissions and reach net zero
BlackRock, the world’s biggest investor, has said that oil companies and other polluting industries should disclose their carbon emissions and set targets to cut them, in the latest sign of the rapid reassessment of climate risks by asset managers.
All companies in which BlackRock invests will be expected to disclose direct emissions from operations and from energy they buy, known respectively as scope 1 and scope 2 emissions, the investment firm said in a letter outlining its plans.
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