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‘Oil is the poison’
Action is the antidote’ – sixteen days in the movement to end fossil fuels. At 8.25 on Friday 15th April, as the rush hour traffic poured off the M4 at Chiswick, four activists stepped out in front of an Eddie Stobart oil tanker. Two held up a banner declaring ‘Just Stop Oil’ whilst two others…
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4 Apr 2022 jamesTectonic shifts – the energy crisis and the leap beyond – The Economic War, part 4
Shell declares it may go back into Cambo and the oilfield’s exploration license is extended by two years. The British government pushes for renewed drilling in the UK North Sea. There is public outcry at the Chancellor’s failure to defend households from the attack on living standards driven by price inflation. The Russian government announces…
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23 Mar 2022 jamesTime to kick Oil out of Football? – The Economic War, part 3
Roman Abramovich under sanctions! Chelsea up for sale! Scandal engulfs Everton FC as a key donor Alisher Usmanov is added to the UK government’s list of ‘named Oligarchs’. The Economic War has opened a new front on the pitch. Football is pulled into the Russian invasion of Ukraine just as Western corporations and the oil…
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10 Mar 2022 jamesHail to the dockworkers! A Tale of Three Tankers – The Economic War, part 2
You can track them still on MarineTraffic.com … the MV Seacod, the MV Boris Vilkitsky and the MV Pearl. Three ghost ships of the energy system, the spirits of the Economic War. All three of these vessels broke out of the fog that normally swathes the constant trade in oil and gas. All three neared…
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The Guns of Economic War – unpicking the decisions by BP to sell out of Russia
Far from the terrifying realities of the shelling of civilians in Kyiv, Kharkiv and other Ukrainian cities, far from the desperation of women and children trying to board trains for Poland, far from the sickening din of armour in the streets, the guns the economic war are firing. The bravery of Ukrainian citizens in resisting…
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Russian Roulette. The impact of sanctions against Russia on international oil companies
This briefing by Platform, Greenpeace UK and ShareAction outlines the main European and US sanctions that impact IOCs operating in Russia. It details the impact of these sanctions on planned joint ventures involving Exxon, Statoil, Eni and Shell. It also examines the unique consequences for BP as a holder of a 19.75% stake in Rosneft…
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Sunday at Trafalgar Square: oil sponsorship meets Russian militarism
Short version of the story: poor timing of the year award goes to Boris Johnson for hosting a huge Russian Maslenitsa (pancake day) festival on the day Russian troops took over Crimea. Lead sponsor of the festivities: Russian state oil corporation Rosneft. Anyone has a clear idea why Mayor of London held Russian festival yesterday…
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Russian Roulette: International Oil Company Risk in the Russian Arctic
International Oil Companies (IOCs) face pressure from investors to achieve a positive reserves replacement ratio. With governments around the world increasingly asserting control over natural resources in their territory, as well as conventional oil reserves dwindling, the Arctic is one of the frontier areas targeted by IOCs. In Russia, IOCs have entered a number of…
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Russian Roulette – the BP and Rosneft deal
On 22nd October BP plc announced it had agreed heads of terms to sell its 50% stake in TNK-BP to Rosneft. BP’s official announcement of the proposed deal refers to Rosneft’s 2011 oil reserve replacement ratio of 127% and dividend of 25% of IFRS net income. However, there are a number of areas of concern…
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MPs find government support for Arctic drilling ‘reckless’
The UK government’s support for Arctic Oil drilling was labelled ‘reckless’ today by the Environmental Audit Committee (EAC). The Foreign and Commonwealth Office (FCO) has been quietly supporting oil companies’ Arctic ambitions but this is the first time there has been public scrutiny of the department’s actions in relation to Arctic drilling. The Committee published…
