Category Archives: Energy industry

North Sea oil was battered by Covid, but now faces much deadlier waves

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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.

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Hitting global climate target could create 8m energy jobs, study says

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Researchers suggest net increase would mostly occur in renewables sector, with decline in fossil fuels

If some politicians are to be believed, taking sweeping action to meet the goals of the Paris climate agreement would be calamitous for energy sector jobs. But a study suggests that honouring the global climate target would, in fact, increase net jobs by about 8 million by 2050.

The study – in which researchers created a global dataset of the footprint of energy jobs in 50 countries including major fossil fuel-producing economies – found that currently an estimated 18 million people work in the energy industries, which is likely to increase to 26 million if climate targets are met.

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Green groups’ fury at loophole in new North Sea oil test

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Projects that could produce more than 1.7bn barrels will not have to go through the government’s ‘checkpoint’, data reveals

Prospective oil projects in the North Sea with the capacity to produce more than a billion barrels will avoid a new test designed to assess their impact on the climate crisis, the Observer has learned.

In a development that has angered environmental campaigners, it has emerged that proposed new developments representing some 1.7bn barrels of oil will not have to undergo the forthcoming “climate compatibility checkpoint”, designed to determine whether they are consistent with the government’s climate commitments.

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‘This isn’t ideological’: reluctant ‘green hero’ behind Exxon coup

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Tiny hedge fund Engine No 1 says a strong climate strategy simply makes good business sense

The activist hedge fund behind ExxonMobil’s boardroom coup last week has claimed another seat from the oil giant’s board, to take the number of new directors who will push for climate action from within the company to three.

The result of last week’s shareholder vote has installed the hedge fund, named Engine No 1 after a San Francisco fire station, as a reluctant hero of the climate movement.

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‘Cataclysmic day’ for oil companies sparks climate hope

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Court and investor defeats over carbon emissions a historic turning point, say campaigners and lawyers

A “cataclysmic day” for three major oil companies in which investors rebelled over climate fears and a court ordered fossil fuel emissions to be slashed has sparked hope among campaigners, investors, lawyers and academics who said the historic decisions marked a turning point in efforts to tackle the climate crisis.

A Dutch court on Wednesday ordered Shell to cut carbon emissions from its oil and gas by 45% by 2030. A tiny activist investor group simultaneously won two places on ExxonMobil’s board and Chevron’s management was defeated when investors voted in favour of forcing the group to cut its carbon emissions.

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Eco investors turn up the heat on Shell over climate target

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Voting at the oil giant’s annual meeting this week could see Follow This activists making trouble over emissions

Shell is braced for its largest climate rebellion this week as shareholders face the choice between backing the oil giant’s carbon-cutting plans or siding with an activist investor who is calling for tougher emissions targets.

With its annual meeting planned for Tuesday, the Anglo-Dutch company has called on its investors to vote against a shareholder resolution from campaign group Follow This in favour of its own plans to reduce its emissions to “net zero” by 2050.

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Mozambique insurgency: 20,000 still trapped near gas plant six weeks after attack

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People fleeing militant violence near Total’s Afungi project in Cabo Delgado have been blocked by government forces

More than 20,000 Mozambicans have been trapped near a huge natural gas project in the country’s Cabo Delgado province, more than a month since it was abandoned after a militant attack.

People camped at the gates of French energy company Total’s Afungi site have had been unable to escape, despite fears of imminent violence, and have limited food because the Mozambican government has blocked humanitarian access.

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Global alliance for phasing out coal not fit for purpose, says NGO

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Powering Past Coal Alliance accused of failing to follow up on pledges as many countries expand use of coal

An attempt by the UK government to encourage countries and businesses around the world to quit coal for power generation is failing to make an impact, and in danger of being used as “greenwash”, an assessment has found.

The Powering Past Coal Alliance, led by the UK and Canada, with 111 members including 24 governments, local governments and businesses, is a key plank of Boris Johnson’s strategy for vital UN climate talks to be hosted in Glasgow in November.

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Revealed: UK solar projects using panels from firms linked to Xinjiang forced labour

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Investigation finds up to 40% of UK solar farms were built using panels from leading Chinese companies

Solar projects commissioned by the Ministry of Defence, the government’s Coal Authority, United Utilities and some of the UK’s biggest renewable energy developers are using panels made by Chinese solar companies accused of exploiting forced labour camps in Xinjiang province, a Guardian investigation has found.

Confidential industry data suggests that up to 40% of the UK’s solar farms were built using panels manufactured by China’s biggest solar panel companies, including Jinko Solar, JA Solar and Trina Solar.

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Spain’s Endesa power firm sued over electrocution of birds

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Landmark case says thousands of birds including endangered eagles die needlessly each year

In Leonard Cohen’s famous song, a bird on a wire is a symbol of freedom, but for thousands of birds it is the equivalent of being sent to the electric chair.

Now, in a landmark case, a Spanish electricity company is being prosecuted over the deaths of hundreds of birds electrocuted on pylons and overhead cables and for failing to comply with regulations designed to protect wildlife.

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‘We cannot drink oil’: campaigners condemn east African pipeline

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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.

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China leads world’s biggest increase in wind power capacity

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Developers built windfarms with a total capacity of almost 100GW in 2020, a rise of nearly 60% on previous year

China built more new windfarm capacity in 2020 than the whole world combined in the year before, leading to an annual record for windfarm installations despite the Covid-19 pandemic.

A study has revealed that China led the world’s biggest ever increase in wind power capacity as developers built almost 100GW worth of windfarms last year – enough to power almost three times the number of homes in the UK and a rise of nearly 60% on the previous year.

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Electricity needed to mine bitcoin is more than used by ‘entire countries’

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Bitcoin mining – the process in which a bitcoin is awarded to a computer that solves a complex series of algorithm – is a deeply energy intensive process

It’s not just the value of bitcoin that has soared in the last year – so has the huge amount of energy it consumes.

The cryptocurrency’s value has dipped recently after passing a high of $50,000 but the energy used to create it has continued to soar during its epic rise, climbing to the equivalent to the annual carbon footprint of Argentina, according to Cambridge Bitcoin Electricity Consumption Index, a tool from researchers at Cambridge University that measures the currency’s energy use.

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Nigerians can bring claims against Shell in UK, supreme court rules

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Ogale and Bille villagers say Shell oil operations have caused severe pollution including to their drinking water

Two Nigerian communities can bring their legal claims for a cleanup and for compensation against the oil company Shell and its Nigerian subsidiary in an English court, supreme court judges have said.

In what lawyers said was a “watershed moment” for the accountability of multinational companies, on Friday the court overturned a decision by the court of appeal, and ruled that the cases against Shell could proceed.

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Carbon capture is vital to meeting climate goals, scientists tell green critics

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Supporters insist that storage technology is not a costly mistake but the best way for UK to cut emissions from heavy industry

Engineers and geologists have strongly criticised green groups who last week claimed that carbon capture and storage schemes – for reducing fossil fuel emissions – are costly mistakes.

The scientists insisted that such schemes are vital weapons in the battle against global heating and warn that failure to set up ways to trap carbon dioxide and store it underground would make it almost impossible to hold net emissions to below zero by 2050.

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Future shock: how will Covid change the course of business?

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The crisis poses a deadly threat to some sectors and creates opportunities for others. We examine how they will fare in 2021

Coronavirus has changed lives and industries across the UK, accelerating fundamental shifts in behaviour and consumption that were already on their way. Debates about home working, preserving local high streets and the ethics of air travel were bubbling away before coronavirus rampaged across the world, but the consequences of the worst pandemic in more than a century have either settled those arguments or boosted the momentum behind certain lifestyle changes. Here we look at how those debates have been changed – or resolved – by Covid-19.

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Floating ‘mini-nukes’ could power countries by 2025, says startup

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Danish company plans to fit ships with small nuclear reactors to send energy to developing countries

Floating barges fitted with advanced nuclear reactors could begin powering developing nations by the mid-2020s, according to a Danish startup company.

Seaborg Technologies believes it can make cheap nuclear electricity a viable alternative to fossil fuels across the developing world as soon as 2025.

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Denmark to end new oil and gas exploration in North Sea

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Decision as part of plan to phase out fossil fuel extraction by 2050 will put pressure on UK

Denmark has brought an immediate end to new oil and gas exploration in the Danish North Sea as part of a plan to phase out fossil fuel extraction by 2050.

On Thursday night the Danish government voted in favour of the plans to cancel the country’s next North Sea oil and gas licensing round, 80 years after it first began exploring its hydrocarbon reserves.

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Things are looking up for oil, but Opec can’t uncross its fingers just yet

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Despite good vaccine news and price rises, the cartel could still meet a few bumps in the road – some of them of its own making

When oil ministers from the world’s largest fossil-fuel nations meet via webcam this week to make decisions about the global oil market in 2021, they could be forgiven for indulging in a little early festive cheer.

Oil prices have more than doubled since tumbling below $20 a barrel and hitting 21-year lows during “black April” – when Covid restrictions brought major economies to their knees, and caused what is thought to have been the worst month in the history of the oil industry.

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Russia rules out cutting fossil fuel production in next few decades

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Energy minister says Moscow will also focus on clean-burning hydrogen and carbon capture

Russia has no plans to rein in its production of fossil fuels in the coming decades despite the global efforts to shift towards low-carbon energy, according to its energy minister.

Alexander Novak told the Guardian that Russia did “not see that we will achieve a peak in [gas] production anytime soon” because the world’s appetite for gas would continue to grow in the decades ahead despite its growing number of climate targets.

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