Wednesday 8 February 2023

Oil and gas producers 0.13% of their energy production from renewables in 2022

It's been a week of simmering anger among some climate campaigners thanks to "grotesque" record profits from oil and gas firms.

On Wednesday, Equinor - one of the UK and Europe's largest gas producers - posted underlying earnings of £61.9bn, more than double the £27.7bn it made in 2021. The Norwegian operator's results followed similar bumper profits from BP and Shell at £23bn and £33bn respectively, which came after last year's soaring energy prices.


Campaigners have taken aim at the firms for raking in huge profits while households and businesses are suffering amid a cost of living crisis and claim the companies have made little progress in switching to renewable energy sources.


Greenpeace hit out at Equinor's profit announcement and reiterated its call for a bigger windfall tax on the sector. Protesters from climate campaigners Parents for Future, Mothers Rise Up, and HERO UK Climate Justice Circle were also staging a demonstration outside Equinor's London headquarters in protest at its figures and its plans to develop Rosebank, the UK's largest undeveloped oil field.


The activists at Equinor's headquarters described the figures as "grotesque". Mel Evans, Greenpeace UK's head of UK climate, added: "Equinor is the latest fossil fuel giant to post record profits looted from bill payers' pockets while destroying the climate last year.


"Just 0.13% of its energy production came from renewables in 2022. Instead of giving out more tax breaks for oil and gas drilling, the Government needs to claw back these massive profits and use them to insulate people's homes and scale up renewable energy."

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