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Global Witness

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"Oil Giant's Staggering $1 Billion Monthly Investment in Fossil Fuels Exposed by Global Witness"

Originally Published 2 years ago — by CNBC

Abu Dhabi National Oil Company (ADNOC), led by the president of the COP28 climate conference, is projected to spend over $1 billion per month on fossil fuels this decade, according to analysis by Global Witness. This amount is nearly seven times higher than its commitment to decarbonization projects. ADNOC disputes the analysis, stating that the assumptions made are inaccurate. The findings come ahead of the COP28 climate summit, where global leaders will discuss progress in the fight against the climate crisis. Critics argue that the dual role of ADNOC's CEO as the president of COP28 raises concerns about conflicts of interest.

business energy adnoc climate-crisis cop28 energy fossil-fuels global-witness

Shell's Controversial Trade: Profiting from Russian Gas Despite Promises

Originally Published 2 years ago — by Global Witness

Shell has been estimated to have made hundreds of millions of dollars trading Russian liquefied natural gas (LNG) since the start of the war in Ukraine, according to a report by Global Witness. Despite Shell's promise to stop dealing in all Russian hydrocarbons, the company continued to trade Russian gas, claiming it was necessary for Europe's energy security. The majority of Shell's Russian LNG exports went to the Middle East and Asia, rather than Europe. Global Witness calls for an immediate halt to this trade and for governments to ban imports of Russian gas and impose a 100 percent tax on profits and dividends received by companies from Russian operations since the start of the war.

world energy energy global-witness lng-trade russian-gas shell ukraine-invasion