Patrick Pouyanne loves rugby and at 1.91 metres in height would make a good second-row forward. Not just physically imposing, the chief executive of TotalEnergies is more outspoken than his Anglo-Saxon, Arab or Chinese counterparts. He would not have been happy to see protesters from the Just Stop Oil campaign disrupt the Gallagher Premiership rugby union final at Twickenham in May.
But at last week’s Opec seminar in Vienna, Mr Pouyanne said the oil industry should set targets to reduce greenhouse gas emissions at the Cop28 climate conference starting in Dubai in November.
“If we can bring something to Cop28 as an oil and gas industry … not only IOCs [international oil companies] but also NOCs [national oil companies] should have some targets,” Mr Pouyanne said.
He referred to the need to cut leaks of methane, the main constituent of natural gas, but a powerful global warming gas in its own right. And he advocated targets to reduce oil companies’ so-called Scope 1 and Scope 2 emissions by 2030. Scope 1 involves direct emissions from combustion or methane releases in oil companies’ own operations; Scope 2 are emissions from electricity or heat purchased from others.
In fact, most major oil corporations already target such reductions. But reporting on them usually comes with the caveat that they do not have goals to eliminate Scope 3 emissions – the greenhouse gases released when their oil and gas produced is eventually used. About 85 per cent of oil and gas emissions would fall into this category; in the case of Shell, as high as 95 per cent.
There are exceptions: BP aims to cut Scope 3 by 20 per cent to 30 per cent by 2030 and to reach net zero on carbon from its upstream production by 2050. Mr Pouyanne’s TotalEnergies aims to cut Scope 3 from oil by 40 per cent by 2030. It aims to be net zero by offsetting 100 million tonnes of annual carbon dioxide emissions through various methods by the middle of this century.
Speaking at the same Opec event, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, chief executive of Adnoc and President-designate of Cop28, said “the phase down of fossil fuels is inevitable, it is in fact essential”, but “the speed of the transition will be driven by how quickly we phase up zero-carbon alternatives”.
So the big question is: are fossil fuel producers responsible for the emissions of those who use their oil and gas?
European companies face the most pressure. In May 2021, a Dutch court ruled that Shell must reduce the carbon dioxide emissions of its operations and products sold by 45 per cent by 2030, in line with the global reductions implied by 2015 Paris Agreement on climate.
Activist groups proposed a number of resolutions at shareholder meetings of Shell, BP, ExxonMobil and Chevron last year on tightening Scope 3 reductions, which garnered about 20-30 per cent support. Just Stop Oil, which in addition to rugby has interrupted play at Wimbledon, the Lord’s cricket Test, the World Snooker Championships and Premier League football, wants the UK government to block all new oil, gas and coal projects.
This is precisely the problem with the attention on Scope 3: it places the responsibility on those extracting the resource, not those using it. Oil companies should certainly reduce their own operational emissions to zero as soon as possible.
But it’s very difficult to see how they can be responsible for what their customers do with the product, or alter the fact that people around the word still rely on oil and gas to move around, eat, dress, build, and light, heat and cool their homes. That demand will drop but neither quickly nor smoothly.
To meet goals for Scope 3 reduction, oil companies have various options. They can sell their upstream assets but that just moves the emissions into the hands of others, probably private or state-backed owners with less environmental scrutiny.
They could cease investing in their upstream activities and let them decline naturally as fields deplete. If the Europeans do that, the Americans will take their market – and indeed the share price of European oil companies has significantly trailed their transatlantic competitors. When BP announced in February it would be investing more and cutting hydrocarbon production by less than earlier stated by 2030, its shares jumped.
If all western companies cut output, their market share would be taken by other state corporations, whose vast reserves are more than enough to breach climate goals on their own. Less gas production would mean more coal consumption – someone else’s Scope 3.
Finally, if through binding international agreement all companies were to phase out oil and gas output, without consumers’ moving rapidly to affordable and abundant alternatives, severe energy shortages would strike and prices would go through the roof. We already had a foretaste of that with record gas prices last year because of Russian actions – and the response was public outrage, massive government subsidies and price caps.
On the other hand, if competitive non-oil alternatives do emerge rapidly, then oil companies that have invested in boosting production will find there is no market. They will have made a bad business decision and will lose financially. Their emissions will then fall naturally.
So, how could petroleum corporations realistically reduce Scope 3? They have to work with their end-consumers to ensure ever-greater efficiency of use and preferentially in non-emitting applications, such as making long-life petrochemicals and plastics, lubricants and hydrogen. Combustion should increasingly be replaced with carbon capture, use and storage (CCUS) – on power plants, industry and, potentially, even in oil-powered ships – trapping carbon dioxide rather than releasing it to the atmosphere.
They can offer services to their customers to co-develop CCUS projects, including reimporting captured carbon dioxide. And they could provide completely decarbonised oil by capturing an equivalent amount of carbon dioxide from the air – which at realistic long-term costs for this process would add some $60 to the cost of a barrel of oil, steep but not absurd.
Companies need to try such approaches to tackle their Scope 3 emissions. Otherwise, they will emerge from the scrum of climate action with a black eye.
Robin M. Mills is chief executive of Qamar Energy, and author of The Myth of the Oil Crisis
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
RESULTS
Lightweight (female)
Sara El Bakkali bt Anisha Kadka
Bantamweight
Mohammed Adil Al Debi bt Moaz Abdelgawad
Welterweight
Amir Boureslan bt Mahmoud Zanouny
Featherweight
Mohammed Al Katheeri bt Abrorbek Madaminbekov
Super featherweight
Ibrahem Bilal bt Emad Arafa
Middleweight
Ahmed Abdolaziz bt Imad Essassi
Bantamweight (female)
Ilham Bourakkadi bt Milena Martinou
Welterweight
Mohamed Mardi bt Noureddine El Agouti
Middleweight
Nabil Ouach bt Ymad Atrous
Welterweight
Nouredine Samir bt Marlon Ribeiro
Super welterweight
Brad Stanton bt Mohamed El Boukhari
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
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Company%20Profile
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Afro%20salons
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On racial profiling at airports
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds
Glossary of a stock market revolution
Reddit
A discussion website
Redditor
The users of Reddit
Robinhood
A smartphone app for buying and selling shares
Short seller
Selling a stock today in the belief its price will fall in the future
Short squeeze
Traders forced to buy a stock they are shorting
Naked short
An illegal practice
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
Major honours
ARSENAL
BARCELONA
- La Liga - 2013
- Copa del Rey - 2012
- Fifa Club World Cup - 2011
CHELSEA
- Premier League - 2015, 2017
- FA Cup - 2018
- League Cup - 2015
SPAIN
- World Cup - 2010
- European Championship - 2008, 2012
Tentative schedule of 2017/18 Ashes series
1st Test November 23-27, The Gabba, Brisbane
2nd Test December 2-6, Adelaide Oval, Adelaide
3rd Test Dcember 14-18, Waca, Perth
4th Test December 26-30, Melbourne Cricket Ground, Melbourne
5th Test January 4-8, Sydney Cricket Ground, Sydney
