Shell and BP paid zero tax on North Sea gas and oil for three years

Firms defend paying no corporation tax after government handed out billions to energy giants

Shell and BP, which together produce more than 1.7bn tonnes of greenhouse gases a year, have not paid any corporation tax on oil and gas production in the North Sea for the last three years, company filings reveal.

The oil giants, which have an annual global footprint of greenhouse gases more than five times bigger than Britain’s, are benefiting from billions of pounds of tax breaks and reliefs for oil and gas production.

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Crown gives go ahead to rival ‘net zero carbon’ North Sea schemes

Exclusive: crown estates accused of greed in selling rights to ‘incompatible’ carbon capture and windfarm projects

A clash between two multibillion pound “net zero carbon” schemes is brewing in the North Sea after the Queen’s property manager granted development rights for one patch of seabed to two different projects at the same time.

The crown estate will earn millions of pounds after agreeing to lease an area off the Yorkshire coast to the latest phase of the giant Hornsea offshore windfarm, as well as to a scheme led by BP which plans to begin storing carbon dioxide under the seabed. This has prompted concern that the giant wind turbines could interfere with seabed sensors for the carbon storage project.

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No formal Cop26 role for big oil amid doubts over firms’ net zero plans

Officials from fossil fuel firms may attend fringe events but campaigners hail lack of official role

Fossil fuel firms have been given no official role in the Cop26 climate summit, it can be revealed, against a background of growing concern among UK officials that big oil’s net zero plans do not stack up.

Private emails from civil servants in the Cop unit, seen by the Guardian, show doubts about one oil major’s net zero plans, with an official saying BP “[does] not currently fit our success criteria for Cop26” and another noting “it’s unclear whether [its net zero] commitments stack up yet”.

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Cop26 corporate sponsors condemn climate summit as ‘mismanaged’

Exclusive: NatWest, Microsoft and GSK among firms to raise complaint over poor planning and breakdown in relations

Companies that stumped up millions of pounds to sponsor the Cop26 climate summit have condemned it as “mismanaged” and “very last minute” in a volley of complaints as next month’s event in Glasgow draws near.

The sponsors, which include some of Britain’s biggest companies, have raised formal complaints blaming “very inexperienced” civil servants for delayed decisions, poor communication and a breakdown in relations between the organisers and firms in the run-up to the landmark talks.

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French villagers bid to stop Tory donor Aquind laying cable under Channel

Energy firm and director Alexander Temerko have given £1.1m between them to Conservatives

French mayors and residents along the Normandy coast are campaigning to block a project for a cross-Channel electricity cable backed by a Ukrainian-born businessman who has donated hundreds of thousands of pounds to the Conservative party.

Kwasi Kwarteng, Britain’s business secretary, is due to decide this week on whether to give the go-ahead to a £1.2bn project for the 148-mile cable between Normandy and Hampshire. The firm says the link, which will run through Portsmouth, could supply up to 5% of Britain’s electricity needs.

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Claims that Russia is using energy as a weapon is nonsense, says Putin – video

President Vladimir Putin says Russia is ready to provide more gas to Europe if requested, emphatically rejecting the suggestion that Moscow is squeezing supplies for political motives. European gas prices have hit record levels this month, but the Kremlin has repeatedly denied that Russia is deliberately withholding supplies in order to exert pressure for quick regulatory approval of the Nord Stream 2 gas pipeline across the Baltic Sea to Germany

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Carbon emissions ‘will drop just 40% by 2050 with countries’ current pledges’

International Energy Agency says $4tn investment needed over decade to reach net zero target

Current plans to cut global carbon emissions will fall 60% short of their 2050 net zero target, the International Energy Agency has said, as it urged leaders to use the upcoming Cop26 climate conference to send an “unmistakable signal” with concrete policy plans.

In its annual World Energy Outlook, redesigned this year as a “guidebook” for world leaders attending the summit in Glasgow, the IEA predicted that carbon emissions would decrease by just 40% by the middle of the century if countries stick to their climate pledges.

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India faces electricity crisis as coal supplies run critically low

Eight in 10 thermal power stations within days of running out as state blackouts spark protests

India is facing a looming power crisis, as stocks of coal in power plants have fallen to unprecedentedly low levels and states are warning of power blackouts.

States across India have issued panicked warnings that coal supplies to thermal power plants, which convert heat from coal to electricity, are running perilously low.

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Nord Stream 2 approval may cool gas prices in Europe, says Russia

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.

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China orders energy firms to secure winter fuel supplies at all costs

World’s second biggest economy is grappling with power cuts that have affected industrial output

China’s central government officials have ordered the top state-owned energy companies to secure fuel supplies for winter at all costs as the country battles a power crisis that threatens to hit growth in the world’s second biggest economy.

The vice-premier, Han Zheng, has told energy companies to make sure there is enough fuel to keep the country running and made it clear that Beijing would not tolerate blackouts, according to a report by Bloomberg.

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How bad is China’s energy crisis?

Country is implementing power rationing as supplies dwindle due to price raise of imported coal

The situation is widespread. In recent days, factories in 20 of China’s 31 provinces have suffered a loss of power, forcing many to shut down production, at least for hours at a time. Millions of households in the north-east of the country have also lost power and found that they cannot use electricity to heat or light their homes.

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China hit by power cuts and factory closures as energy crisis bites

The world’s top coal consumer implements power rationing as supplies dwindle ahead of winter

China has told railway companies and local authorities to expedite vital coal supplies to utilities as the world’s second largest economy grapples with extensive power cuts that have crippled industrial output in key regions.

As many as 20 provinces are believed to be experiencing the crisis to some degree, with factories temporarily shuttered or working on short hours. Shopkeepers were left to light their stores by candles, and there were reports of mobile networks failing after a three-day outage hit three north-eastern provinces.

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Boris Johnson to consider using army to supply petrol stations

Ministers to discuss emergency plan Operation Escalin after BP reveals a third of its forecourts have shortages

Hundreds of soldiers could be scrambled to deliver fuel to petrol stations running dry across the country due to panic buying and a shortage of drivers under an emergency plan expected to be considered by Boris Johnson on Monday.

The prime minister will gather senior members of the cabinet to scrutinise “Operation Escalin” after BP admitted that a third of its petrol stations had run out of the main two grades of fuel, while the Petrol Retailers Association (PRA), which represents almost 5,500 independent outlets, said 50% to 90% of its members had reported running out. It predicted that the rest would soon follow.

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Tory donor’s oil firm admits employees paid bribes to get contracts

Petrofac made admission as part of deal to end four-year corruption investigation by Serious Fraud Office

A multinational oil firm, which was led by a major Conservative donor, has admitted that its employees paid bribes to land contracts, as it struck a deal to end a corruption investigation into the company.

The admission was announced by the firm, Petrofac, on Friday to settle a four-year corruption and money laundering investigation by the Serious Fraud Office.

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Business minister bids to calm crisis fears as UK gas prices soar

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.

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Fire shuts one of UK’s most important power cables in midst of supply crunch

Coal plants being warmed up as market prices surge to £2,500 per MWh from a norm of £40

A major fire has forced the shutdown of one of Britain’s most important power cables importing electricity from France as the UK faces a supply crunch and record high market prices.

National Grid was forced to evacuate staff from the site of the IFA high-voltage power cable, which brings electricity from France to a converter station in Kent, where 12 fire engines attended the blaze in the early hours of Wednesday morning.

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Spain cuts soaring energy bills with emergency measures

Government expects to redirect €2.6bn from firms to consumers in next six months, with average monthly bill falling by 22%

Spain’s government has passed emergency measures to reduce sky-high energy bills by redirecting billions of euros in extraordinary profits from energy companies to consumers and capping increases in gas prices.

In the first such broad response in Europe, where wholesale prices have doubled in a year, Spain plans to limit the profits that energy companies using hydropower and other renewable power generators can make from surging electricity prices.

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Norway election result: Labour celebrates but coalition talks loom

Labour’s Jonas Gahr Støre on course to be prime minister after Conservative incumbent concedes defeat but faces hard choices on picking allies

Norway’s Conservative prime minister Erna Solberg has conceded defeat to the left-leaning opposition after a general election campaign dominated by questions about the future of the key oil industry in western Europe’s largest producer.

“The Conservative government’s work is finished for this time around,” Solberg told supporters on Monday. “I want to congratulate Jonas Gahr Støre, who now seems to have a clear majority for a change of government.”

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Norway votes – but is Europe’s biggest oil giant ready to go green?

The Scandinavian country faces a crisis of conscience on the eve of elections

Norway goes to the polls on Monday in parliamentary elections that are forcing western Europe’s largest oil and gas producer to confront its environmental contradictions.

Climate issues have dominated the campaigning since August, when the UN’s Intergovernmental Panel on Climate Change published its starkest warning yet that global heating is dangerously close to spiralling out of control.

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SNP members call for creation of state-run energy company

Motion will be seen as rebuke to party leader Nicola Sturgeon, who pledged to establish national firm in 2017

Scottish National party members backed a call for a state-run energy company to be set up on the second day of their autumn conference, four years after leader Nicola Sturgeon first pledged one. The move will be seen as a direct rebuke to the leadership’s failure to make good on the promise.

On Saturday activists overwhelmingly supported a motion demanding the creation of a Scottish national energy company, which first minister Nicola Sturgeon first promised in October 2017 at a previous conference.

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