November 28, 2023

BP’s Gelsenkirchen plant no longer uses Russian crude

BP shares are up more than 20% year-to-date.

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Amid a second-quarter earnings update on Tuesday, BP Chief Executive Bernard Looney said the company’s Gelsenkirchen, Germany refinery is no longer using Russian crude, down from 50%.

Oil majors were one of several sectors that reduced or significantly reduced their exposure to Russia following its invasion of Ukraine.

Back in late February, BP was announced unloaded a 19.75% stake in Rosneft, a Russian oil company.

— Matt Clints

US ‘deeply concerned’ about Russian control of Ukrainian nuclear facilities, says Blinken

US Secretary of State Antony Blinken speaks at the tenth annual review of the Treaty on the Non-Proliferation of Nuclear Weapons at UN headquarters on August 1, 2022 in New York.

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Secretary of State Anthony Blinken said the US is “deeply concerned” by reports that Russian forces have seized nuclear facilities in Ukraine.

“There are credible reports, including in the media today, that Russia is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it is shooting at Ukrainians from around the plant,” Blinken told reporters in the United States. Nations, adding that this was “the height of irresponsibility”.

“And of course, the Ukrainians cannot and will not detonate, lest there be a terrible accident with a nuclear plant,” he said.

Blinken said it was important to give the International Atomic Energy Agency access to nuclear facilities in order to protect against an accident.

— Amanda Macias

Germany disputes nuclear shutdown amid gas supply concerns

Steam rises from the cooling tower of the Isar 2 nuclear power plant (NPP) in Essenbach, Germany.

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Growing concern over the impact of a possible Russian gas cut is fueling debate in Germany over whether the country should shut down its last three nuclear power plants as planned at the end of this year.

The door to some sort of extension appeared to be opening a crack after the Finance Ministry announced in mid-July a new “stress test” for the security of electricity supplies. It is supposed to take into account a tougher scenario than a previous test, which ended in May, that supplies were secured.

Since then, Russia has cut gas supplies through the Nord Stream 1 pipeline to Germany to 20% of capacity amid tensions over the war in Ukraine. He cited technical issues that Germany says are just an excuse for a political power play. Russia recently accounts for about a third of Germany’s natural gas supply, and there are concerns that it could turn off the tap entirely.

The Union’s main opposition bloc has increasingly called for the life of nuclear plants to be extended. Similar calls are coming from the smallest party in Chancellor Olaf Solz’s coalition government, the pro-business Free Democrats.

— Associated Press

Macron tells Zelensky that Russian war crimes will not go unpunished

French President Emmanuel Macron speaks in favor of a price cap on Russian oil as he speaks to the media on the third and final day of the G7 summit at Schloss Elmau on June 28, 2022 near Garmisch-Partenkirchen, Germany.

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French President Emmanuel Macron told Ukrainian President Volodymyr Zelenskyy in a phone call that war crimes committed by Russian forces “will not go unpunished.”

“While war crimes are multiplying, the President of the Republic reaffirmed his support for the Ukrainian people and their resistance and declared his determination to ensure that these crimes do not go unpunished,” a French presidential office source wrote in a readout of the call .

During the conversation, the 36th exchange between the two leaders since the start of Russia’s war in Ukraine, Macron said France would send a forensic team and a mobile DNA analysis laboratory to Ukraine.

— Amanda Macias

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