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Intervention comes as EU leaders prepare to debate bloc’s economic competitiveness
...Wood Mackenzie added that many companies in the oil and gas industry had low levels of borrowing and would be relatively unaffected by higher rates....
...Fourteen is a significant number, as any changes would need the backing of a majority of EU countries....
...Now read these Sanctions busters: Russia has started supplying oil directly to North Korea, according to satellite images seen by FT....
...Between 2019 and 2021, G20 countries channelled $33.5bn a year on average towards fossil fuel projects — seven times more than to renewables, the US campaign group Oil Change International has found....
...In education, the implications include a change in the way those in academia deliver content and engage with their students, with more access being via tools such as ChatGPT, and administrative automated...
...Australia’s largest oil and gas developer has launched a staunch defence of its climate plan ahead of a potentially damaging vote on the issue at its annual meeting next week....
...In Australia, where the change has only just happened, the government has threatened legal action....
...Royalty rates will rise from 12.5 per cent to 16.67 per cent, in line with a change first mandated by the Inflation Reduction Act, Biden’s landmark climate law....
...“Uncertainty of the election outcomes and related policy changes have most oil and gas operators just making minimal investments to maintain production levels,” wrote one executive....
...Plus ça change The same is true for France....
...“The administration is unlikely to change their stance on oil sanctions . . . just due to the election season coming up and higher oil prices already,” said Hunter Kornfeind, oil market analyst at Rapidan...
...Climate change costs Then there are the costs of action on climate change....
...innovation officer Leigh-Ann Russell is leaving for an external job after 18 years at BP, while Anja-Isabel Dotzenrath, who joined in 2022 to head BP’s gas and low-carbon business, will retire, the FTSE 100 oil...
...Europe Express is the FT’s authoritative newsletter on the tumultuous events shaping Europe as Russia and the continent wrestles with unrelenting crisis and change.Headed by Brussels Bureau Chief Henry Foy...
...Context: The explosion of the Nord Stream 2 gas pipeline in the Baltic Sea, sightings of Russian boats near wind farms off the Dutch coast and scares around oil rigs have heightened fears that Moscow or...
...BP has announced changes to its organisational structure and the departure of two senior figures, as the UK oil major seeks to close a yawning valuation gap with US peers and convince investors it can deliver...
...change....
...“What is absolutely necessary is to change the size of the relevant market,” Letta added....
...Test case: Shell will appeal a landmark climate ruling in The Hague this week, in a major test of whether oil and gas companies can be blamed for climate change....
...methane emissions from oil and gas infrastructure....
...We have an exclusive story on Iran’s oil exports reaching a six-year high and giving its economy a $35bn-a-year boost despite sanctions....
...Nato foreign ministers meeting today will discuss plans to secure a five-year military aid package of up to $100bn, in a bid to shield Ukraine from “winds of political change” that could usher in a second...
...Proponents of the changes say that private universities could shake up public education, which has often been criticised for being slow and old-fashioned....
...Spare change: Development funds are dashing for cash for climate resilience and poverty reduction, as governments are distracted by wars and elections....
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